Reviewing a $10.2 billion bid made Friday by activist investor Carl Icahn, The Clorox Company has hired Wachtell, Lipton, Rosen & Katz to help chart its next move.
Icahn’s $76.50-per-share offer represents a 21 percent premium on Clorox’s stock price as of December 20, the day before Icahn began building his current 9 percent stake in the company, which appears designed to elicit other offers for the target, according to The New York Times.
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