Bayer (BAYZF.PK) decides to avoid getting enmeshed in a bidding war for Schiff Nutrition (SHF...

|About: Bayer A.G. (BAYZF)|By:, SA News Editor

Bayer (BAYZF.PK) decides to avoid getting enmeshed in a bidding war for Schiff Nutrition (SHF -5.3%), saying it won't increase its $1.2B proposal for the U.S. company after Reckitt Benckiser (RBGPF.PK) offered $1.4B. "Entering a competitive bidding process in response to the November 18 Proposal (Reckitt's bid) would result in a price outside Bayer's set financial criteria," the German drug maker says.