Carl Icahn's playbook might be too predictable. The billionaire investor has made one of his biggest takeover offers in a decades-long career, offering to purchase Clorox Co (CLX.N) for $10.7 billion -- and hardly anyone thinks he is serious. Clorox flatly turned down the bid by the 75-year-old corporate raider-turned-activist as not credible and inadequate. The shares of the 99-year-old company that makes a range of products from bleach to Burt's Bees lotions are trading some $10 below Icahn's $80 per share offer, indicating investors do not see it happening either.
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX fell by 1.17% or $-0.83/share to $70.29. In the past year, the shares have traded as low as $60.56 and as high as $75.44. On average, 1638360 shares of CLX exchange hands on a given day and today's volume is recorded at 1181058.
