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 Activist Investor Carl Icahn disclosed that on July 14, he sent a letter to Donald Knauss, CEO of Clorox (NYSE:CLX) with a proposal to acquire all of the issued and outstanding shares not owned for $76.50 per share net in cash. Icahn also disclosed that his affiliates have obtained a highly confident letter from Jefferies regarding its ability to provide financing for the proposed transaction. Icahn said that if the Clorox publicly announces by July 29, 2011 acceptance of the offer and provides financing sources with due diligence, it will pay Clorox a $100M payment for its time and effort should the deal fail to close. Further, Icahn encouraged Clorox to hold an "open and friendly" go-shop sale process where "all the synergistic buyers are offered due diligence and invited to bid." Icahn notes he is Clorox’s largest shareholder in the letter. Shares of Clorox are trading up over 11% to $76.10 in Pre-market trade on the news.Clorox is currently above its 200-day moving average (MA) of $66.60 and should find resistance at its 50-day MA of $68.50. In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has remained constant.
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Video Length: 0
Date Found: July 16, 2011
Date Produced: July 16, 2011
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 Voxant Newsroom |
July 16, 2011
Activist Investor Carl Icahn disclosed that on July 14, he sent a letter to Donald Knauss, CEO of Clorox (NYSE:CLX) with a proposal to acquire all of the issued and outstanding shares not owned for $76.50 per share net in cash. Icahn also disclosed that his affiliates have obtained a highly ...
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 Voxant Newsroom |
July 16, 2011
tonight we get reaction from the firefighters union and the mayor to public safety director darren white’s abrupt retirement today. white was dogged by questions all week about a minor crash his wife was in---and why he drove her to the hospital instead of waiting for an ambulance. eddie garcia ...
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 Voxant Newsroom |
July 16, 2011
Good Morning. It’s Friday, July 15, 2011. At this hour, U.S. equity futures are higher. Overseas, the Asian markets mixed, while the European markets are down. News Corp. (NASDAQ:NWSA) announced the appointment of Tom Mockridge as CEO of News International effective immediately following the ...
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 Voxant Newsroom |
July 16, 2011
This is what’s in the news for Friday, July 15th. The Wall Street Journal reports that Credit Suisse Group (NYSE:CS) is the target of a U.S. Justice Department investigation into hidden Swiss offshore accounts for wealthy Americans. The Wall Street Journal reports that the Obama Administration ...
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 Voxant Newsroom |
July 15, 2011
Busy schedules shouldn’t mean a scarce social life. Teri Gault from thegrocerygame.com gives you tips on how to prep your home to be "magazine-ready" even within the shortest of time frames.
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