SSL International PLC, maker of Durex condoms and Scholl foot care products, said Wednesday that its board is recommending a 2.54 billion pounds ($3.9 billion) takeover offer from Reckitt Benckiser PLC, the producer of Vanish, Lysol and Clearasil. Reckitt Benckiser said its offer of 1,163 pence per share plus a final dividend for last year of eight pence represents a premium of 33 percent over SSL's share price on July 20. We view this as a very good price for SSL shareholders, and an excellent strategic fit for Reckitt Benckiser, said Damian McNeela and Graham Jones, analysts at Panmure Gordon & Co. We do not see a counter offer being made and expect shareholders to accept the offer.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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