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Takeover Bid for Clorox Increased

July 25, 2011 — Investor Carl C. Icahn has increased his offer to purchase The Clorox Co. after his initial takeover bid was rejected, reports The Wall Street Journal.

Ichan has offered to buy Clorox for US$80 per share, up from his previous offer of $76.50. In addition he would also put $5.2 billion in escrow, plus an extra $1 billion against any shortfall in debt financing for a deal.

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