Recent reports have revealed that Bayer will be taking over Schiff Nutrition International, an important company, which markets nutritional supplements and vitamins across US and other countries. A merger deal has been signed between both the parties.
Detailed reports regarding the product portfolio of Schiff suggest that company encompasses major brands, including MegaRedr, Move Freer and Airborner.
On Tuesday, Germany's largest drug-maker Bayer HealthCare LLC asserted that it will be proposing $34 per share in cash. The company will be taking over Schiff for $1.2 billion, as Schiff's transaction values are approximately the amount.
Dr. Marijn Dekkers, CEO of Bayer AG said, "Bayer is committed to augment its organic growth with strategic bolt-on acquisition. This transaction represents an excellent strategic fit for our HealthCare business. The Schiff business significantly enhances our position in US".
On the other hand, Dr. Jorg Reinhardt, CEO of Bayer HealthCare, has asserted that they will be making use of marketing skills and look forward to enhance the products sales and distribution.
Dr. Reinhardt affirmed that they will be using the technology provided by Schiff to exploit the potential of their brands and promoting them around the globe.
Tarang P. Amin, President and CEO of Schiff, believes that Bayer will be able to take their products at a higher level.
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