An unsolicited takeover bid from investor Carl Icahn has put Oakland-based Clorox Co. in play, and the company could ultimately be sold to a rival or forced to hive off some of its well-known brands. 

The takeover offer values the company at $10.2 billion, a 12% premium over its closing share price on Thursday, according to the Wall Street Journal. Icahn, a veteran corporate raider, already owns almost 10% of the company and hopes his bid will touch off an auction involving consumer products giants such as Procter & Gamble, Unliver and Colgate.  

But the Journal suggests that antitrust issues could make it hard for some of the obvious suitors. Clorox, which was founded in Oakland in 1913 by five partners who thought the briny San Francisco Bay waters would be good for making bleach, owns brands including Clorox bleach, Glad trash bags, Hidden Valley salad dressing, and Burt's Bees. 

Clorox said in a statement that it would respond to the offer in due course. Clorox has about 8,300 employees worldwide and remains headquartered in downtown Oakland.