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.
From the December 01, 2012 Issue of MM+M - Medical Marketing and Media
