Reckitt Benckiser (LSE:RB.)
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5 Years : From Jun 2011 to Jun 2016
LONDON--Reckitt Benckiser Group PLC (RB.LN), a manufacturer of consumer goods, said Thursday that it has signed a definitive merger agreement with Schiff Nutrition International, Inc. (SHF), adding that it has launched a $1.4 billion Tender Offer For Schiff.
-Schiff has approved the transaction and will recommend that its stockholders tender their shares into Reckitt Benckiser's previously announced cash tender offer of $42.00 per share, valuing Schiff at $1.4 billion.
-Reckitt Benckiser's tender offer will expire at 0459 GMT, on Dec. 15, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.
-Reckitt Benckiser will finance the transaction with cash and existing credit facilities. The transaction is expected to be immediately accretive to earnings on an adjusted basis.
-Reckitt shares closed Wednesday at GBP38.45 valuing the company at GBP27.65 billion.
-Write to Razak Musah Baba at email@example.com