Carl Icahn has acquired a 9.08% stake in household-products maker, Clorox, The Wall Street Journal reports. Icahn currently holds 12.5 million Clorox shares, including one million common shares and 11.5 million shares underlying call options.

Icahn paid about $66.35 a share for the common stock and an average price of $22.23 per share for the options, which will expire in 2012. The activist investor, who believes that the Clorox shares are undervalued, may seek discussions with management.

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