While Deutsche Bank analyst Bill Schmitz believes Church & Dwight (CHD) is a willing seller, he questions whether Reckitt Benckiser (RBGLY), which is being said to be planning a bid for C&D, would want to face off against Procter & Gamble (PG) in the U.S. in the laundry category. He also notes that the deal price speculated by Negocios would have a EBITDA multiple over 25x, noting that the high end of large deals in the space have traded for high teens EBITDA multiples. The analyst, who expects the stock to "give back the ill gotten gains over the last few days," thinks C&D will ultimately try to find a buyer, but not at the multiple suggested in today's report. He keeps a Buy rating and $102 price target on C&D shares.