drop coming imo3 Aug 2016 10:11
Church & Dwight Co., the maker of Trojan condoms and Arm & Hammer baking soda, rose the most in more than eight years on reports that it might be a takeover target.
The shares soared as much as 11 percent to $107.36 in New York on Thursday -- the biggest intraday gain since November 2007 -- amid reports in Negocios.com that bidders including Reckitt Benckiser Group Plc and Procter & Gamble Co. are circling Church & Dwight. Reckitt Benckiser plans to offer $23 billion next week to buy the company, Negocios.com said Thursday, citing people it didn’t identify.
This will cause a 10% drop for RB.!