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Genomic Health Inc. Message Board

amarildose 1 post  |  Last Activity: Mar 19, 2013 1:35 AM Member since: Mar 19, 2013
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  • amarildose amarildose Mar 19, 2013 1:35 AM Flag

    Consumer-products maker Reckitt Benckiser Group signed a $1.4 billion deal to acquire Schiff Nutrition International Inc. on Wednesday, outbidding drug and chemical firm Bayer .

    Schiff's stock soared from $8 a share two years ago to $23 before Bayer's bid was disclosed and closed at $41.90

    Schiff, which sells vitamins and nutritional supplements such as Airborne, and Bayer had signed a merger agreement valuing the company at $1.2 billion, or $34 a share, in late October. The German drug maker said it hoped to buttress its U.S. consumer-health presence.

    But, Reckitt, the Slough, England-based maker of Clearasil acne cream and Durex condoms, swooped in with the higher offer last week. Reckitt chief executive Rakesh Kapoor said in a statement Wednesday the deal would help springboard the British company into the higher-margin health business, where its offerings already include over-the-counter medicines such as cough-and-cold remedy Mucinex.

    Salt Lake City, Utah,-based Schiff couldn't be reached for comment late Wednesday. A spokesman for Reckitt said the company had no further comment. Bayer said in a regulatory disclosed Tuesday that its board had decided not to increase its bid, clearing the way for Reckitt's deal.

    .............

    happy now swalchie ?
    You can go back on Ig now. Not sure how you got off

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