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NewsIcahn offers to buy Clorox for US$10.2bil
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Icahn offers to buy Clorox for US$10.2bil
by hlk Sat 16 Jul 2011, 10:30
BANGALORE: Billionaire investor Carl Icahn offered to buy Clorox Co in a US$10.2bil deal, but also invited the household products maker to hold a “go shop” sale, which he said should yield a higher bid for the company.
Icahn's US$76.50 per share offer represents an 11% premium to the stock's Thursday closing on the New York Stock Exchange.
The activist investor said he had already arranged for US$7.8bil in financing through Jefferies & Co. Reuters
, offered to pay a US$100mil break-up fee if he was unable to close the transaction, provided Clorox agreed to the deal by July 29. Reuters
Icahn's US$76.50 per share offer represents an 11% premium to the stock's Thursday closing on the New York Stock Exchange.
The activist investor said he had already arranged for US$7.8bil in financing through Jefferies & Co. Reuters
, offered to pay a US$100mil break-up fee if he was unable to close the transaction, provided Clorox agreed to the deal by July 29. Reuters
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