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Management And Training

Icahn gets pushy

August 31, 2011
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NEW YORK — If Clorox is sold, shareholders may not clean up so quickly, according to the New York Post.

Interest from two possible buyers — Germany''s Henkel AG and Company and Japan''s Kao Corporation, which were both eyeing Clorox after billionaire investor Carl Icahn pushed for a sale of the bleach maker — has cooled off in recent days, the article stated.

According to the article, Icahn, who has been campaigning to oust Clorox''s board to spur a sale of the company, has increased the pressure on the company.

Icahn, whose list of potential buyers for Clorox includes Procter & Gamble, stated that if his slate of board directors is elected at the upcoming annual meeting, he would immediately put the business up for sale, the article noted.

If Icahn fails to find a buyer willing to pay more than $78 a share, he would then step in to buy the company at the $78 price himself, the article added.

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