IHS Chemical Week

Bayer walks away from Schiff Nutrition deal

11:41 AM MST | November 21, 2012

Bayer said on Tuesday that it had no plans to raise its $1.1-billion price to buy Schiff Nutrition International (Salt Lake City), a leading producer of branded vitamins, nutrition supplements, and nutrition bars in the United States and other countries—leaving Reckitt Benckiser (Slough, UK) to acquire Schiff. Reckitt Benckiser on Friday commenced a tender offer to acquire Schiff Nutrition for $1.4 billion. Bayer, which offered $34/share, said it would not seek to counter Reckitt Benckiser’s $43/share bid because the price would be too high. Schiff Nutrition...

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