CINCINNATI — Kimberly-Clark has stated it has no intention of making a bid to acquire Clorox, despite weak second quarter results, according to a press release.
Chief Executive Officer (CEO) Tom Falk has said that Kimberly-Clark has no plans to make big acquisitions, and in particular, of Clorox, the release stated.
According to the release, the company has been named as a possible suitor for Clorox, which is the target of attention by activist investor Carl Icahn, but Falk said Clorox is a "well- managed company" and he saw no need to buy it.
Falk''s comments came after Kimberly-Clark revealed that net profit for the second quarter fell by 18 percent to $408 million, or $1.03 a share, although underlying profit amounted to $1.18 a share; sales, however, were up 8.3 percent to $5.26 billion, although the weakness of the dollar provided a five percent increase, the release noted.
Click here to read the complete release.