Icahn Halves Stake in Clorox

After failing to win enough support to take over the Clorox Co. board, billionaire investor Carl Icahn has nearly halved his stake in household products maker, Reuters reported. His stake in the company fell to 4.99% as of Dec. 1, a regulatory filing showed on Thursday. He had a stake of 8.17% as of Nov. 2.

(Reuters) – Billionaire investor Carl Icahn has nearly halved his stake in Clorox Co, more than a month after he failed to win enough support to take over the board of the household products maker.

His stake in the company fell to 4.99 percent as of Dec. 1, a regulatory filing showed on Thursday. He had a stake of 8.17 percent as of Nov. 2.

On Sept. 23, Icahn dropped his push to unseat the Clorox board, saying he lacked support from other major investors.

The company had twice rejected his offer to buy it.