Bayer HealthCare announced $34/share cash deal for Schiff Nutrition (~$1.2B). Schiff FY2012 net sales $259M. Bayer was subsequently outbid by Reckitt Benckiser at $42/share ($1.4B); Bayer declined to raise. Note: nutraceutical/consumer-health, included as borderline pharma carve-out of major pharma activity.