Sullivan Steers Bayer’s $1.2B Schiff Nutrition Buy

Law360, New York (October 30, 2012, 1:19 PM EDT) -- A unit of health care giant Bayer AG has inked a deal to pick up Schiff Nutrition International Inc. that values the company at $1.2 billion and will boost Bayer’s nutritional supplement arm, the companies announced Tuesday.

Bayer HealthCare LLC is offering $34 cash for each outstanding share for the Utah-based Schiff, and the deal takes into account the company’s debt. The transaction is expected to close by the end of the year and will significantly bump up Bayer’s over-the-counter product offerings, the companies said....
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