Reckitt Benckiser (Slough, UK) has signed a definitive merger agreement with Schiff Nutrition International (Salt Lake City), a leading provider of branded vitamins, nutrition supplements and nutrition bars in the United States and other countries, following Bayer's decision not to make a higher bid. The board of Schiff has approved the transaction and will recommend that its stockholders tender their shares into Reckitt Benckiser's previously announced cash tender offer of $42/share, valuing Schiff at $1.4 billion. Reckitt Benckiser will finance the transaction with cash and existing credit facilities. Bayer has received a break-up fee of $22 million from Schiff.
展开▼
