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Saturday
Jul162011

Icahn Makes Bid for Clorox, Stocks Jump

Justin Sullivan/Getty Images(CHICAGO) -- Investor Carl Icahn tried to play up Clorox Co. on Friday by valuing the company at over $10 billion.

Icahn offered $76.50 per share of the company -- a 12 percent premium on Thursday's closing market price.

The billionaire wrote in a letter to the Clorox CEO Donald Knauss that the company could get better bids from rivals.

Despite Icahn's bold move, shares rose to $73.90, still $2.50 below the bid price.

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