FTSE 250 movers: SSL surges on Reckitt bid

21st Jul 2010 14:48

Shares in SSL, the maker of Durex condoms and Scholl foot care products, soared after a bid from Reckitt Benckiser, the maker of household products such as the cleaning agent Cillit Bang and Nurofen painkillers.Reckitt will pay SSL shareholders 1,163p per share with a final dividend taking the total up to 1,171p per share. The bid values SSL in total at £2.54bn. The offer price is a premium of a third to the closing price yesterday of SSL, which is known globally for its Durex and Scholl brands.Shares in GKN, which makes parts for cars and planes, motored ahead after it said an upturn in automotive markets has resulted in an strong improvement in trading.Elsewhere in the automotive market, car dealer Inchcape is in demand. Spread bet firm IG Index, which yesterday said profits jumped by a quarter last year as its bad debt charge tumbled and equity markets settled down after the volatility of 2009, is also in demand.De La Rue's shares are down again after a bad day yesterday when the banknote publisher warned sales in 2010/11 would be materially below earlier expectations.FTSE 250 - RisersSSL International (SSL) 1,180.00p +33.79%Ferrexpo (FXPO) 279.10p +8.64%IG Group Holdings (IGG) 476.20p +7.42%Ashtead Group (AHT) 92.90p +6.78%Informa (INF) 376.50p +6.72%Mondi (MNDI) 423.50p +6.38%Cookson Group (CKSN) 436.20p +6.11%Inchcape (INCH) 304.50p +5.47%GKN (GKN) 140.30p +5.41%International Personal Finance (IPF) 200.80p +5.30%FTSE 250 - FallersDe La Rue (DLAR) 748.00p -3.67%Eaga (EAGA) 114.30p -3.14%SThree (STHR) 247.60p -2.90%Drax Group (DRX) 368.60p -2.56%Promethean World (PRW) 164.00p -1.80%Hansteen Holdings (HSTN) 60.95p -1.69%F&C Commercial Property Trust (FCPT) 93.50p -1.48%Euromoney Institutional Investor (ERM) 580.50p -1.36%Micro Focus International Plc (MCRO) 429.90p -1.29%Salamander Energy (SMDR) 223.00p -1.28%