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Reckitt Benckiser Group Plc Signs Merger Agreement To Acquire Schiff Nutrition International, Inc

Thursday, 22 Nov 2012 02:00am EST 

Reckitt Benckiser Group Plc announced that it has signed a definitive merger agreement with Schiff Nutrition International, Inc. provider of vitamins, nutrition supplements and nutrition bars in the United States and elsewhere. The Board of Directors of Schiff has approved the transaction and will recommend that stockholders tender their shares into Reckitt Benckiser's previously announced cash tender offer of $42.00 per share, valuing Schiff at $1.4 billion. Reckitt Benckiser's tender offer will expire at 11:59 p.m. New York City time, on December 14, 2012, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. Reckitt Benckiser will finance the transaction with cash and existing credit facilities. Pursuant to the merger agreement, Reckitt Benckiser will amend tender offer documents to, among other matters, remove the conditions relating to due diligence and the execution of a definitive merger agreement. Morgan Stanley & Co. Limited is acting as exclusive financial adviser to Reckitt Benckiser. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Reckitt Benckiser's legal advisor. 

Company Quote

-56.0 -1.12%
12:06pm EDT