The billionaire Icahn's latest chatter on the bleach maker amounts to $78 a share.
In a statement, Icahn said that if a slate of directors he nominated for the Clorox 2011 annual meeting is elected, they would "immediately commence a comprehensive auction process to sell the company."
Icahn said that if the auction did not result in a sale of the company at $78 per share or better, then he will acquire it for $78 a share, at least half of which would be in cash, with the rest in registered senior unsecured notes.
"The Clorox shareholders should have the right to decide for themselves whether to accept my bid or a better bid which I believe will be forthcoming from the sale process," Icahn said.
Shares of Clorox were recently trading at $70.35, up $1.72, or 2.51%. The shares had reached an intraday high of $72.34.
This article was written by a staff member of TheStreet.