Reckitt Benckiser To Acquire Schiff Nutrition
Reckitt Benckiser To Acquire Schiff Nutrition
Reckitt Benckiser Group PLC has commenced its previously announced tender offer to acquire all of the outstanding shares of Schiff Nutrition International, Inc., a leading provider of branded vitamins, nutrition supplements and nutrition bars in the United States and elsewhere, for $42.00 per share in cash, or approximately $1.4 billion.
Reckitt Benckiser’s offer will be subject to Schiff and its controlling stockholders terminating their merger and related agreements with Bayer HealthCare LLC, and entering into definitive agreements with Reckitt Benckiser, and to other customary conditions, including the tender of a majority in voting power of Schiff shares of common stock, all of which will be set forth in the offering documents to be filed.
Morgan Stanley & Co. Limited is acting as exclusive financial adviser to Reckitt Benckiser.
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