Deals
Schiff Bidding Seen Making Most Expensive Deal Pricier: Real M&A
This article is for subscribers only.
Schiff Nutrition International Inc. has traders betting that what’s already the most expensive deal in the vitamin industry is about to get even pricier.
Shares of Schiff ended yesterday 5.1 percent above a $42-a-share bid from Reckitt Benckiser Group Plc, which last week topped Bayer AG’s $34 offer for the Salt Lake City-based maker of Airborne cold-prevention remedies and other supplements. No other U.S. transaction valued at $1 billion or more is trading that far above its deal price, according to data compiled by Bloomberg, signaling traders who profit from acquisitions anticipate a higher offer.