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Icahn Raises the Ante on Clorox

New bid approaches $10.7 billion.

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By: TOM BRANNA

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Investor Carl Icahn is trying to put the heat on Clorox by raising his offer to acquire the company to $80 a share, valuing the maker of the namesake bleach at about $10.7 billion. His earlier bid, at $10.2 billion, was rejected. Under the new deal, Icahn Enterprises and affiliates will put $5.2 billion, including their Cloroxshares, in escrow to demonstrate the credibility of the offer. Clorox rejected his earlier bid, saying it undervalued the company and financing wasn’t certai...

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