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

German Merck to buy St. Louis-based Sigma-Aldrich

Sep 22, 2014

German drug company Merck says it has agreed to buy St. Louis-based chemical firm Sigma-Aldrich Corp. for $17 billion in a deal Merck says will strengthen its business in chemicals and laboratory equipment.

The human race evolved to be fair for selfish reasons

Sep 19, 2014

"Make sure you play fairly," often say parents to their kids. In fact, children do not need encouragement to be fair, it is a unique feature of human social life, which emerges in childhood. When given the o ...

User comments