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Reckitt Benckiser Group Plc Commences All-Cash Tender Offer Of $42 Per Share To Acquire All Outstanding Shares of Schiff Nutrition International, Inc.


Friday, 16 Nov 2012 08:37am EST 

Reckitt Benckiser Group Plc announced that it has commenced previously announced tender offer to acquire all of the outstanding shares of Schiff Nutrition International, Inc., provider of vitamins, nutrition supplements and nutrition bars in the United States and elsewhere, for $42.00 per share in cash, or approximately $1.4 billion. The tender offer will expire at 9:00 a.m., New York City time, on December 14, 2012, unless extended in accordance with the applicable rules and regulations of the SEC. Reckitt Benckiser's offer will be subject to Schiff and controlling stockholders terminating their merger and related agreements with Bayer HealthCare LLC, and entering into definitive agreements with Reckitt Benckiser, 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 and no one else in connection with the matters described in this announcement. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Reckitt Benckiser's legal advisor. 

Company Quote

5005.0
-110.0 -2.15%
7:45am EDT