Reckitt to buy vitamin company Schiff for $1.4B

by The Associated Press

Reckitt Benckiser Group PLC said Wednesday that is acquiring vitamin and nutrition supplement maker Schiff Nutrition International Inc. for $1.4 billion, topping an earlier bid by Bayer AG.

The British consumer goods company said the deal will build on its health care business in the U.S., where it already sells brands such as Muxinex, Delsym and Durex. Schiff products include 's Milk nutrition bars and Airborne immune system .

Reckitt first made the $42-per-share offer earlier this month only weeks after Bayer offered $34 dollars per share for the -based company. The German drugmaker later said it did not want to engage in a bidding war for the company.

Schiff's board has approved the deal and urges stockholders to tender their shares. The offer expires Dec. 14.

Shares of Schiff rose 4 cents to close at $41.90. Its shares are up nearly 81 percent since late October, before the bidding for the company began.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Bayer rules out increasing bid for Schiff Nutrition

Nov 20, 2012

German chemicals and pharmaceuticals giant Bayer withdrew from a battle to buy US-based Schiff Nutrition International on Tuesday, ruling out an increase to its bid against a rival counter offer.

3Par calls HP $30 bid 'superior'; Dell mulls reply

Aug 28, 2010

(AP) -- Data storage company 3Par Inc. says its board has determined that Hewlett-Packard Co.'s $2 billion, $30-per-share takeover bid is superior to a rival offer from Dell Inc., but Dell said Saturday it was mulling over ...

Alibaba.com shares surge on privatization bid

Feb 22, 2012

(AP) -- Shares of Alibaba.com rocketed on Wednesday after the Chinese e-commerce site said its parent company made a $2.5 billion privatization bid as part of a shift in business strategy that also includes plans to buy ...

Recommended for you

Exploring 3-D printing to make organs for transplants

Jul 30, 2014

Printing whole new organs for transplants sounds like something out of a sci-fi movie, but the real-life budding technology could one day make actual kidneys, livers, hearts and other organs for patients ...

High frequency of potential entrapment gaps in hospital beds

Jul 30, 2014

A survey of beds within a large teaching hospital in Ireland has shown than many of them did not comply with dimensional standards put in place to minimise the risk of entrapment. The report, published online in the journal ...

Key element of CPR missing from guidelines

Jul 29, 2014

Removing the head tilt/chin lift component of rescue breaths from the latest cardiopulmonary resuscitation (CPR) guidelines could be a mistake, according to Queen's University professor Anthony Ho.

Burnout impacts transplant surgeons (w/ Video)

Jul 28, 2014

Despite saving thousands of lives yearly, nearly half of organ transplant surgeons report a low sense of personal accomplishment and 40% feel emotionally exhausted, according to a new national study on transplant surgeon ...

User comments