Tue, May 3, 8:32 AM
- Clorox (NYSE:CLX) announces it purchased Renew Life for $290M plus some potential post-closing adjustments.
- The Renew Life dietary health business generated $115M in sales last year and had a gross margin rate roughly in line with that struck up by Clorox.
- The acquisition falls in line with Clorox's plan to pursue strategic bolt-on acquisitions.
- Previously: Clorox beats by $0.10, beats on revenue (May 3)
- Previously: Clorox positive after earnings beat in FQ3 (May 3)
Sep. 22, 2014, 8:10 AM
- Shares of Clorox (NYSE:CLX) are higher in early trading after the New York Post reports the company was the target of takeover interest during the last three to six months.
- A number of analysts think an acquisition premium will linger over the stock due to the stable of strong brands Clorox possesses.
- CLX +2.7% premarket to $93.01.
Sep. 21, 2014, 4:17 AM
- Just months before its recent C-suite shuffle, Clorox (NYSE:CLX) reportedly rebuffed a takeover offer from a rival.
- The spurned suitor valued Clorox at a 20% premium to its trading price.
- Logical suitors include Church & Dwight (NYSE:CHD), Procter & Gamble (NYSE:PG), Jarden (NYSE:JAH) and Unilever (UL, UN)
- In 2011 activist investor Carl Icahn offered $78/share for the company. Many believe the move was designed to tease out a strategic buyer. Shares closed Friday at $90.57.
Jan. 5, 2012, 10:39 AM
Clorox (CLX) buys Aplicare and HealthLink, which make infection control products for the healthcare sector, for a total of $80M-$90M. Clorox says the acquisitions will be slightly dilutive to its 2012 profit but should not affect its plans for dividends or share buybacks. Shares -0.6%. (PR)| Jan. 5, 2012, 10:39 AM
Sep. 23, 2011, 4:49 PM
Sep. 2, 2011, 8:50 AM
Even as Carl Icahn continues his public fight to acquire Clorox (CLX), many arbitrage traders are giving him low odds of pulling off a deal, in part due to Icahn's offer being contingent on a complete board overhaul. In addition, there's plenty of analyst and investor skepticism about a third party such UL or PG buying Clorox.| Sep. 2, 2011, 8:50 AM
Aug. 31, 2011, 10:55 AMShares of Lionsgate (LGF -4.6%) are lower in the wake of the peace pact with Carl Icahn on concerns about plans for tens of millions of shares to hit the market, but Wall Street generally seems pleased. Cowen views it as "an overall significant positive for LGF shares. The sale will remove the overhang of Icahn’s position and [puts] the dispute behind." | Aug. 31, 2011, 10:55 AM
Aug. 30, 2011, 5:57 PM
Clorox (CLX) responds to Carl Icahn's bid to buy the company if his director candidates aren't approved: "The Clorox board of directors remains open to any credible proposal, and believes that Mr. Icahn's latest proposal is highly conditional, substantially undervalues the company and is not credible."| Aug. 30, 2011, 5:57 PM
Aug. 30, 2011, 2:49 PM
Carl Icahn says he would buy Clorox (CLX +2.2%) for $10.3B, or $78/share, if his director candidates are approved and the company isn't sold. If a slate of directors he nominated for the Clorox 2011 annual meeting is elected, Icahn says they would "immediately commence a comprehensive auction process to sell the company."| Aug. 30, 2011, 2:49 PM
Aug. 3, 2011, 1:57 PMClorox's (CLX -1.1%) good quarter is bad news for Carl Icahn, which makes Clorox “accepting Icahn’s offer even less likely than before,” Oppenheimer's Joe Altobello says. Icahn offered to buy Clorox to force a sale of the company to anyone but him, but the better the company’s performance, the lower the odds of a buyout. | Aug. 3, 2011, 1:57 PM | 1 Comment
Jul. 26, 2011, 4:43 PM
Jul. 22, 2011, 10:16 AMEddy Elfenbein thinks the Clorox (CLX) board will turn down Carl Icahn's $80/share bid, even though it overvalues the company; Wall Street expects $4.06 in 2011 EPS, valuing CLX at a "too rich" 20x forward earnings. Doubting that such an offer will come again soon, Elfenbein says "If I were a CLX shareholder, I’d get out of the stock right now." | Jul. 22, 2011, 10:16 AM
Jul. 20, 2011, 11:18 AMCarl Icahn, now offering to buy Clorox (CLX +3.5%) for $80/share instead of $76.50, doesn't like anyone questioning his seriousness, as he scorches the Clorox board in a letter that includes an offer of $5.2B in escrow, insults hurled at CEO Don Knauss, and various ANGRY ALL CAPS rants. He may have a point: CLX has been trading at 2006 levels. | Jul. 20, 2011, 11:18 AM | 4 Comments
Jul. 20, 2011, 8:24 AM
Jul. 18, 2011, 5:53 PM
Clorox's (CLX) board rebuffs Carl Icahn's $76.50/share proposal, calling it "neither credible nor adequate," and sets up a shareholder rights plan that effectively blocks anyone from taking over the company without permission. However, the board says it “remains open to considering any credible plan to create significant stockholder value.” CLX -0.4% AH.| Jul. 18, 2011, 5:53 PM | 1 Comment
Jul. 18, 2011, 2:58 PM
Clorox (CLX -2.1%) shares slip after investors take the weekend to digest Carl Icahn’s $76.50/share proposal for the company. Bernstein Research sounds the alarm for investor caution, acknowledging downside risks if the deal falls apart, given "the real possibility that Icahn is not entirely serious, particularly if the board tries to negotiate aggressively." Shares now at ~$73.| Jul. 18, 2011, 2:58 PM