Church & Dwight
This article was originally published in The Rose Sheet
Executive Summary
Firm will pay approximately $254 mil. to purchase Kelso & Co.'s 50% interest in Armkel, with sale expected to close around May 30, Princeton, N.J. company announces May 6. Purchase is expected to have a negative impact on C&D's second and third quarter earnings, but likely will be accretive by early 2005, firm says. C&D acquired Armkel in a 50/50 joint venture with Kelso in 2001 (1"The Rose Sheet" May 14, 2001, p. 9). Firm predicts Q1 diluted net income per share will increase 40% to $.70 per share and revenue will rise 19% to $296 mil., boosted by a longer quarter and the recent acquisition of Unilever's North American oral care business. First quarter results will be announced May 11...
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