Reckitt Benckiser Launches $1.4 Billion Tender Offer For Schiff Nutrition

Date : 11/22/2012 @ 2:45AM
Source : Dow Jones News
Stock : Schiff Nutrition International, Inc. (SHF)
Quote : 42.0  0.0 (0.00%) @ 2:05AM
Schiff Nutrition International, Inc. share price Chart

Reckitt Benckiser Launches $1.4 Billion Tender Offer For Schiff Nutrition

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LONDON--Reckitt Benckiser Group PLC (RB.LN), a manufacturer of consumer goods, said Thursday that it has signed a definitive merger agreement with Schiff Nutrition International, Inc. (SHF), adding that it has launched a $1.4 billion Tender Offer For Schiff.


-Schiff has approved the transaction and will recommend that its 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 0459 GMT, on Dec. 15, 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. The transaction is expected to be immediately accretive to earnings on an adjusted basis.

-Reckitt shares closed Wednesday at GBP38.45 valuing the company at GBP27.65 billion.

-Write to Razak Musah Baba at

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