Reckitt Benckiser Group PLC said Wednesday that it will buy vitamin and nutrition supplement maker Schiff Nutrition International Inc. for $1.4 billion, topping an earlier bid by Bayer AG.
The British consumer goods company said the deal will build on its health care business in the U.S., where it already sells brands such as Muxinex, Delsym and Durex. Schiff products include Tiger’s Milk nutrition bars and Airborne immune system health supplements.
Reckitt first made the $42-per-share offer earlier this month only weeks after Bayer offered $34 dollars per share for the Salt Lake City-based company.
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