STOCKS NEWS EUROPE-Reckitt up on talk of move for Merck's unit
Shares in Reckitt Benckiser (Xetra: A0M1W6 - news) rise 2.2 percent to feature among top risers on Britain's FTSE 100 index, with traders citing speculation the maker of Nurofen pain relief tablets may make a move for Merck (Dusseldorf: 6MK.DU - news) & Co's consumer healthcare (CH) business.
Reckitt's stock has gone through a third of its full-day volume average for the past three months at 0900 GMT, compared to FTSE volume of less than a fifth of the index's own average.
Merck & Co has received approaches from large consumer companies interested in its CH business, best known for over-the-counter (OTC (Brussels: OTCB.BR - news) ) products such as Coppertone sunscreen, sources close to the matter told Reuters.
"We believe the acquisition of Merck (Other OTC: MKGAF - news) 's OTC/CH assets would also be very attractive to RB (Reckitt Benckiser)," analysts at Bernstein wrote in a note.
"We estimate this would push RB up from global #9 to #3 in CH and would result in RB becoming the global leader in Cough, Cold and Allergy."
Reuters messaging rm://francesco.canepa.thomsonreuters.com@reuters.net