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Reckitt Benckiser Announces Acquisition
of Schiff Nutrition for $1.4 Billion

As reported in Businessweek, Financial Times, The New York Times "Dealbook" and Reuters, Paul, Weiss client Reckitt Benckiser Group PLC (Reckitt Benckiser) announced that it will commence a tender offer on November 16 to acquire all of the outstanding shares of Schiff Nutrition International, Inc. (Schiff), a leading provider of branded vitamins, nutrition supplements and nutrition bars, for $42.00 per share in cash for the value of $1.4 billion. Reckitt Benckiser's offer is not dependent on financing as the purchase will be funded from existing facilities.

Reckitt Benckiser's is subject to Schiff and its controlling stockholders terminating their previously announced merger agreement and related agreements with Bayer HealthCare LLC, and entering into definitive agreements with Reckitt Benckiser, and to other customary conditions

The Paul, Weiss team included corporate partners Toby Myerson, Kelley Parker and Steven Williams.

Posted on Nov 16, 2012 
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