Billionaire investor Carl Icahn wants all 11 seats on the board of Clorox Co (CLX.N), which last month twice rejected his offers to purchase the bleach maker. In a letter to Clorox on Friday, Icahn said he wants to nominate himself, his son and nine other people for election to Clorox's board at its next annual shareholder meeting. The attempt to replace the entire board differs from tactics Icahn recently used with other companies, where he went after just a small number of seats. He nominated four people to Forest Laboratories Inc's (FRX.N) then nine-member board in June. On Thursday, Forest Labs won its showdown with Icahn as its shareholders backed the company's slate of 10 board members over nominees Icahn had proposed.
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX traded higher by 1.53% or $0.98/share to $65.10. In the past year, the shares have traded as low as $60.56 and as high as $75.44. On average, 1861400 shares of CLX exchange hands on a given day and today's volume is recorded at 1695673.
Forest Laboratories, Inc. (Forest) develops, manufactures and sells branded forms of ethical drug products, most of which requires a physician's prescription. Shares of FRX fell by 0.75% or $-0.25/share to $32.93. In the past year, the shares have traded as low as $27.27 and as high as $40.52. On average, 3858540 shares of FRX exchange hands on a given day and today's volume is recorded at 1085285.
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