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Bayer says to acquire U.S. vitamin maker Schiff
Oct 30, 12 Drug NewsGermany’s largest drugmaker Bayer said it agreed with Schiff Nutrition International to take over the U.S. vitamins and nutritional supplements maker for $1.2 billion.
Bayer said on Tuesday it is offering $34 per share in cash.
Closing is subject to customary closing conditions and is expected by year end 2012, it added.
Schiff posted sales of $259 million for its fiscal year ended May 31, according to Bayer.
(Reporting by Ludwig Burger)
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