NEW YORK (AP) — Billionaire investor Carl Icahn is staying the course. The hedge fund manager increased his offer for Clorox Co. by almost 5 percent to $10.7 billion on Wednesday, two days after the consumer products maker rejected his initial bid.
In a regulatory filing with the Securities and Exchange Commission, Icahn said he was boosting his offer to $80 per share from $76.50 a share, which valued the company at $10.2 billion.
Clorox confirmed that it received the revised bid and said that its board, which is consulting with financial and legal advisers, would review the offer "in due course."
The company's stock rose $1.77, or 2.4 percent, to close at $74.34 …
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