Clorox’s Japan scenario
Clorox, the maker of the namesake bleach, has caught the eye of at least one potential strategic buyer, The Post has learned.
Japanese consumer-products giant Kao is looking at Clorox, although it has not jumped in with a bid, said one source familiar with the situation.
“They are concerned about not having scale in the US,” said the source.
Last month, billionaire investor Carl Icahn made a $10.2 billion offer for Clorox in a bid to draw out other interested suitors, saying shareholders would benefit even more if a another consumer-products company bought the firm.
Icahn suggested six acquirers in a letter to Clorox, including Proc ter & Gamble, Kimberly- Clark and Colgate-Palmo live. Although he did not mention Kao, he cited the opportunity for potential buyers to “more aggressively” market brands overseas.
Clorox rejected Icahn’s sweetened $10.7 billion bid a few weeks later, saying the offer was “inadequate.”
Kao is in similar product lines as Clorox, although it owns few well-known brands here outside of Jergens.
Skeptics say Clorox has too many divergent businesses — from packaged food to household products — to make sense to a single, strategic buyer.
Kao could not be reached for comment.

