HALISTER: Church & Dwight Soars 31% Pre-Market Amid M&A Speculation

Church & Dwight Soars 31% Pre-Market Amid M&A Speculation

(Bloomberg) -- Church & Dwight up 19% pre-mkt to $114.00-shr, rose as much as 31% to $124.99 vs May 10 record intraday high $98.05.
  • Benzinga yday said CHD shares up as traders attribute to speculation of potential P&G interest in CHD product line
  • CHD didn’t immediately respond to Bloomberg email request for comment; PG didn’t immediately respond to Bloomberg call for comment
  • NOTE: May 10 conf. call, CHD said it thinks the best destination for cash is an acquisition; “we do look at acquisitions internationally just as we do domestically”
  • NOTE: May 5, Jefferies said CHD remains active pursuing M&A, though remains disciplined; CHD is best “M&A optionality” in the group as either target or acquirer
  • NOTE: March 1, Baking Soda, Condoms Make Church & Dwight Buyer-Friendly: Gadfly
  • NOTE: Feb. 19, Church & Dwight Likely ’Willing Seller’ If Price Right: Deutsche Bank
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
CHD US (Church & Dwight Co Inc)
PG US (Procter & Gamble Co/The)

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