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Icahn Buys 9% Clorox Stake

Carl Icahn has acquired a 9.08% stake in household-products maker, Clorox.

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.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.

 

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