Icahn Abandons Clorox Fights Monday, September 26, 12:14 PM ET
Investor Carl Icahn appears to be giving up on his attempts to takeover Clorox (NYSE:
Late Friday, Icahn said in a regulatory filing his group was withdrawing its attempt to put a total of 11 people on Clorox's board, including Icahn himself.
Clorox has rejected takeover several bids from Icahn, the latest totaling $80 per share, saying the offers were not credible, and undervalued the company.
Icahn has also suggested that Clorox would be a good takeover target for strategic buyers like Procter & Gamble (NYSE:
PG) or Kimberly Clark (NYSE: KMB).
Icahn abandoned similar activist investment moves at Lions Gate Entertainment (
LGF) and Forest Laboratories ( FRX) over the summer.
For MarketNewsVideo.com, I'm Tracey Fitzpatrick.
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Icahn Abandons Clorox Fights
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