NEW YORK — Billionaire investor Carl Icahn will seek to install himself and 10 other directors on Clorox’s board after the consumer products maker twice rejected his offer to buy the company.
In a filing with the SEC on Friday, Icahn said he will nominate himself and 10 other directors to Clorox’s 11-member board. Icahn, Clorox’s biggest shareholder, has offered twice since mid-July to buy the company, first at $76.50 per share and then at $80 per share — or about $10.7 billion. The company has rejected both offers, and Clorox chief executive Don Knauss said earlier this month that Icahn’s bids were not credible and undervalued the company.
Icahn has criticized the company’s performance and suggested that it accept his bid, shop for competitive offers or take his higher bid to shareholders for a decision.
The Associated Press
