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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:CLX).

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 (NYSE:LGF) and Forest Laboratories (FRX) over the summer.

For MarketNewsVideo.com, I'm Tracey Fitzpatrick.

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Icahn Abandons Clorox Fights | Market News Video | Copyright © 2008 - 2016, All Rights Reserved

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