Bayer (BAYRY) announced in a regulatory filing that will not increase its $1.2B bid for Schiff Nutrition (SHF) following Reckitt Benckiser’s $1.4B offer. Schiff Nutrition is a nutritional supplement company offering vitamins, nutrition supplements and nutrition bars. Bayer said that it came to the conclusion that entering a competitive bidding process for Schiff would result in a price outside of its set financial criteria. Reckitt Benckiser’s $1.4B acquisition offer equates to $42 per Schiff share. The stock closed yesterday’s trading session at $44.15.
Stocks were falling amid investor concerns the U.S. Federal Reserve may begin to taper its stimulus measures and …