Reckitt Benckiser tops Bayer offer for Schiff Nutrition

UK consumer and healthcare company Reckitt Benckiser Group Plc made a rival US$1.4 billion offer for Schiff Nutrition International Inc on Thursday, topping Bayer AG’s agreed US$1.2 billion deal to acquire the US vitamin maker.

Reckitt proposed to pay US$42 for each Schiff share, a 23.5 per cent premium over the US$34 per share that Bayer, Germany’s biggest drugmaker, agreed to pay in late October.

via Business feed http://www.scmp.com/business/companies/article/1083721/reckitt-benckiser-tops-bayer-offer-schiff-nutrition