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Clorox Exits Venezuela After Price Freeze Hobbles Operations

Clorox Co., the consumer-products company that sells everything from bleach to salad dressing, is pulling out of Venezuela after inflation and government-mandated price freezes made the business unprofitable.

Clorox Venezuela will cease operations immediately and try to sell its assets, according to a statement today. The shares rose the most since 2011 after the announcement and a weekend report by the New York Post that Clorox had spurned a takeover offer from another consumer-products company earlier this year.