Deals wrap: Bidding for Clorox
Carl Icahn raised his offer to buy household products maker Clorox to $80 a share from $76.50 after the company rejected his previous offer as too low and not credible.
Icahn’s bid for Clorox has “rekindled the long-running debate about whether investors benefit from Mr. Icahn’s presence,” writes the NYT’s Deal Professor.
The London Stock Exchange has boosted its chances of avoiding the clutches of predatory rival Nasdaq OMX by reporting 14 percent growth as a standalone business. The Financial News reports the LSE is on the lookout for inorganic growth.
China’s top offshore oil producer CNOOC has agreed to buy Opti Canada for $34 million in cash and take on more than $2 billion in debt in a move that will ramp up Chinese investment in Canadian oil sands.