MARKET TALK: Panmure Lifts SSL International Target Price

21st Jul 2010 10:37

0937 GMT [Dow Jones] Panmure Gordon lifts its target price for SL International (SSL.LN) to 1163p from 885p, following Reckitt Benckiser's (RB.LN) cash offer of 1171p/share. Panmure doesn't see a counter offer being made and expects shareholders to accept the offer. The acquisition would represent an excellent strategic fit for Reckitt - with both Durex and Scholl becoming 'power brands' within the Reckitt stable - and should deliver continued growth. The acquisition would also enhance Reckitt's position in both China and Japan. SSL rated buy. Shares +33% at 1175p. Reckitt +2.6% at 3273p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 21, 2010 05:37 ET (09:37 GMT)