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Bayer to Buy U.S. Vitamin Maker Schiff for $1.1 Billion – $SHF

Bayer AG (BAYN) agreed to buy Schiff Nutrition International Inc. (SHF) for $1.1 billion to add a faster- growing vitamins and nutritional supplements business to the German drugmaker’s consumer-health unit.

Investors will receive $34 a share in cash, Leverkusen- based Bayer said in a statement today. The price is 47 percent above Schiff’s closing level Oct. 26, the most recent day of stock tradingin the U.S. Bayer also said its third-quarter profit rose 2.2 percent.”

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