Schiff gets 2nd takeover offer

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Consumer goods firm Reckitt Benckiser commenced a tender offer for vitamin and supplement company Schiff valued at $200 million more than an acquisition deal Schiff already signed with Bayer HealthCare.

Reckitt's bid for Schiff came in at $42.00 per share in cash, valuing Schiff at $1.4 billion—a 23.5% premium over Bayer's bid.

On October 30, Schiff signed a deal to be acquired by Bayer Healthcare in a transaction valued at $1.2 billion.

Schiff markets OTC brands Omega 3 supplement MegaRed and Airborne immune system health supplement, as well as nutrition bars and vitamins.

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