Merger talks boost Seton Scholl

SHARES IN Seton Scholl Healthcare jumped 8 per cent yesterday when the footcare-to-hangover-cures group confirmed it was in merger talks with London International Group (LIG), which makes Durex condoms and rubber gloves. Shares closed up 60p at 827p, valuing Seton Scholl at pounds 873.8m.

The companies said that any deal, which would give Seton considerable marketing advantages, was likely to involve a share swap. Analysts believe a combined group would be worth pounds 1.4bn. LIG announced it was in talks with an unnamed party in January after its shares were devastated by a profits warning before Christmas. It has since spoken to US competitors such as Safeskin, a surgical gloves maker based in San Diego, California. LIG shares fell 2.5p to close at 177.5p.