Bayer HealthCare LLC, a subsidiary of Germany’s Bayer AG, has agreed to purchase Schiff Nutrition International, Inc. (NYSE: SHF), a private equity-backed U.S. producer of non-subscription vitamins and nutritional supplements, including cardiovascular treatment MegaRed, joint-care treatment Move Free and immune support treatment Airborne, in a deal valued at $1.2 billion.

Bayer HealthCare, based in Leverkusen, Germany, is paying $34 per share in cash to shareholders of Salt Lake City, Utah-based Schiff, which represents a 47 percent premium over Friday's closing price of $23.19.

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