Company News

Clorox Rejects Icahn Bid

Raising the ante doesn't sway the board of directors.

Author Image

By: TOM BRANNA

Editor

Clorox Co. said late Tuesday its board determined a revised bid from billionaire investor Carl Icahn substantially undervalues the company and is not good for shareholders. “Our board has carefully considered Mr. Icahn’s revised proposal and concluded that it is inadequate and unlikely to be completed,” said Clorox board member Gary Michael in a statement. “The board also believes Mr. Icahn’s revised proposal lacks deta...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters