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Reckitt Benckiser Acquires Schiff Nutrition for $1.4 Billion
- Client News
- December 17, 2012
Reckitt Benckiser Group plc, announced its acquisition of Schiff Nutrition International, Inc., following the successful completion of its $42.00 per share tender offer and a second-stage short-form merger. The transaction valued the company at $1.4 billion. Reckitt Benckiser had launched the offer on November 16, the day following its submission of a $42.00 per share topping bid in response to Schiff's previously announced October 29 agreement to be acquired by Bayer HealthCare LLC at $34.00 per share. At the expiration of the offer at 11:59 p.m. on December 14, approximately 96.3% of all outstanding shares had been tendered, allowing Reckitt Benckiser to complete the short-form merger the morning of December 17.
The Paul, Weiss team included, among others, corporate partners Charles Googe, Toby Myerson, Kelley Parker, Dale Sarro and Steven Williams and counsel Didier Malequin and Claudine Meredith-Goujon; employee benefits counsel Reuven Falik; tax partner Jeffrey Samuels; environmental counsel William O'Brien; Washington, D.C. counsel Richard Elliott; real estate partner Mitchell Berg; litigation partners Jay Cohen, Stephen Lamb, Catherine Nyarady, Joseph Simons and Robyn Tarnofsky.