Business Services Industry
U.K. Consumer-Brand Duo Eyes UKpound 1 Million Payoff As Bid Talks Start.
Knight Ridder/Tribune Business News, July, 2003
By Jim Armitage, Evening Standard, London Knight Ridder/Tribune Business News
Jul. 14--Durex condoms and Scholl footcare group SSL International today admitted it was in bid talks that could see its management duo share a pay-off of more than UKpound 1 million.
Reckitt Benckiser is widely thought to be the bidder for the group, which was already in the process of selling off its surgical products division to focus on its core consumer brands. SSL's shares have rallied from lows of 166 pence in March to today's 341 1/2 pence, up 31 1/2 pence on the day, in the hope that venture capitalists or trade buyers would pitch in with between UKpound 200 million and UKpound 250 million for the medical arm, which includes surgical gloves maker Regent...
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