Church & Dwight Denies That It’s Engaged in Takeover Talksby
Church & Dwight Inc. denied that it’s engaged in talks with potential acquirers, rebutting reports that had sent the shares surging in the past two days.
The maker of Trojan condoms and Arm & Hammer baking soda said in a statement Thursday that it hasn’t received any takeover proposals or communications concerning potential bids. Church & Dwight said it isn’t aware of any information supporting the speculation.
The company’s shares had risen the most in more than eight years earlier Thursday after Negocios.com reported that Reckitt Benckiser Group Plc and Procter & Gamble Co. were circling it. After Church & Dwight released its statement, the stock pared its gains and was up 0.7 percent to $97.65 at 10:57 a.m. in New York.
The company, which is based in Ewing, New Jersey, had climbed 14 percent this year through Wednesday.