Icahn Enterprises seeks to overhaul Clorox’s board
OAKLAND, Calif. — Icahn Enterprises is continuing its pursuit of Clorox, despite the company’s rejection of last month’s takeover bid.
Icahn Enterprises’ affiliate High River Limited Partnership said Friday that Icahn Enterprises is looking to replace Clorox’s entire board of directors with 11 nominees, who will stand for election at Clorox’s yet-to-be-announced annual stockholders meeting.
"Clorox has an outstanding board of directors that has demonstrated its commitment to acting in the best interests of all Clorox stockholders," the company said in a statement. "The board is composed of 11 highly qualified directors, 10 of whom are independent, and all of whom are elected annually. The directors are proven business leaders with a broad range of complementary experience in consumer products, finance and other areas essential to Clorox’s business, and they have overseen the company’s success in delivering superior results and creating significant stockholder value."
Icahn Enterprises in July submitted an acquisition proposal to Clorox valued at $76.50 per share, which was turned down. Its chairman, Carl Icahn, has a 9.4% stake in Clorox.
"We believe that Mr. Icahn is nominating candidates solely to advance his own agenda," Clorox said, adding that it would review Icahn’s nominations "to ensure they comply with the company’s governing documents and applicable law."
Lance readies parents for back-to-school season with new campaign
CHARLOTTE, N.C. — Sandwich cracker brand Lance is kicking off a back-to-school campaign with help from lifestyle expert Colleen Burns.
Lance’s After-School Crunchtime Tips campaign, a new fully integrated marketing campaign that will run through October, will offer parents helpful tips to get their kids back into a routine for the back-to-school season. The campaign will run through ads on TLC, the Food Network, Café Mom and Yahoo!, as well as on Facebook and on Lance’s Facebook page, where visitors also can enter for their chance to win 1-of-5 $500 Visa gift cards, or 1-of-25 homework caddies filled with back-to-school homework supplies and Lance sandwich crackers.
“I know in my home, it makes all the difference when we have a routine in place to make sure papers get signed, homework gets done, and lunches get packed for the next day,” Burns said. “And of course, with five hungry boys, I always have a good snack, like Lance sandwich crackers, ready for them when they walk in the door.”
Ronzoni Pasta Portions arrives at retail
HARRISBURG, Pa. — Ronzoni has developed an easy-to-prepare pasta line.
New Ronzoni Pasta Portions come in single-serving, boil-in-bag pouches that cook in three minutes. Available in three varieties, including curly elbow, penne and rotini, each box comes with three 3-oz. pouches of dry pasta, making 1.25 cups of perfectly cooked pasta per bag.
Ronzoni Pasta Portions are available in Northeast supermarkets and Walmart stores nationwide, and carry a suggested retail price range $1.32 to $1.65.