Consumer goods giant Reckitt Benckiser could sell footwear business Scholl if its £2.54bn bid for Scholl owner SSL International is successful.
If Reckitt Benckiser gains control of SSL International, as expected, it will launch a review of SSL to identify which of its businesses should be kept or sold, according to The Times.
The review would look at whether the shoe division was integral to the broader footcare business or whether it could be stripped out. Along with Scholl, SSL owns condom manufacturer Durex and muscle relaxant brand Ralgex.
Reckitt Benckiser has made a recommended cash offer of £11.63 a share for SSL, marking a 36 percent premium on yesterday’s closing share price. The takeover could be complete by November.
Scholl, which offers a range of footwear including boots, slippers and sandals, collaborated with premium footwear business Kurt Geiger in February to launch a one-off limited-edition collection of clogs, priced from £120 to £200.