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Church & Dwight shares pare gains after company denies sale talks

Fred Imbert

Shares of Church & Dwight (CHD) traded well off session highs Thursday after the company denied reports of a possible sale.

In a statement, Church & Dwight said it was "not engaged in discussions with, nor has it received any proposal or communication concerning a potential bid for the company or any of its business units and is not otherwise aware of any information supporting these rumors."

The stock briefly rose more than 8 percent Thursday after Madrid-based news outlet Negocios.com reported Reckitt Benckiser (London Stock Exchange: RB.-GB) will make a massive takeover bid for the company. The stock ended the day up more than 2 percent.

Reckitt Benckiser declined to comment.

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Church & Dwight owns brands such as Trojan Brand Condoms, as well as Arm & Hammer, while Reckitt Benckiser owns Durex, another well-known brand of condoms.

Church & Dwight shares have gained nearly 17 percent in 2016.

CHD in 2016

Source: FactSet

Read Negocios.com's full report here.



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