Reckitt Benckiser rumours drive price higher

5th Jul 2011 09:31

Reckitt Benckiser, the maker of brands as diverse as Cillit Bang, Durex and Nurofen headache tablets, is being pushed higher on persistent rumours it's being lined up for a takeover.In early trading the firm was up 2% at 3,553.00p on speculation the US giant Procter & Gamble is considering a bid.As ever in this kind of situation, other names are being bandied about, including Reckitt's Anglo-Dutch rival Unilever.The final price for any bid could be anywhere between 4,000 and 5,000p a share, according to the speculators, but as yet there has been no official word from the firm itself.Reckitt Benckiser's share price took a dive in April when the company's long serving and highly rated Chief Executive Bart Becht announced he was to step down in September.He had been the highest paid Chief Executive of any FTSE-100 company, receiving over £90m in remuneration in 2009The sense is that Becht's departure has changed the strategic outlook of Reckitt, as it looks to move on from his nearly 12 years at the helm.BS