Church & Dwight Takeover Speculation

It was reported this morning that Church & Dwight is a takeover target for a larger company including Reckitt Benckiser or Procter & Gamble.  The company denied the rumors so I think there is nothing going on. Although an unsolicited offer is never out of the question from one of its larger rivals. Based off the information I read I'm going to say it's not entirely credible. There was however some interesting action in the stock the last few days.

As you can see Church & Dwight trades relatively stable throughout most days.  However yesterday we can see the stock had a volatile morning which is unusual. The stock moved a bit more than normal overall due to it being a Fed day, so there was above average market volatility. You can also see there was a large spike in volume at the outset.  I'm a bit cynical but it seems plausible to me that someone already knew Wednesday the news report would be released Thursday. Since the initial report came from a foreign source it's hard to speculate on specifics. 

Either way after the company denied the rumors the stock fell back below $100.  I'm partially excited and partially mad about this.  I'm excited because it's a big compliment to have someone buyout a company you hold.  I'm mad because I was hoping the shares would get back below $90 so I could add.  It looks like that may be off the table for longer than I anticipated.  C'est la vie.