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Bayer decides not to increase $1.2B bid for Schiff Nutrition

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.