A British consumer goods company has made a competing bid for Schiff Nutrition International Inc. a couple weeks after Bayer AG said it will buy the U.S. vitamin and nutritional supplement maker.

Shares of Salt Lake City, Utah-based Schiff shot up more than 28 percent, or $9.58, to $43.50 in Friday morning trading after Reckitt Benckiser Group PLC revealed its offer.

Slough, England-based Reckitt Benckiser said it is starting a tender offer to buy Schiff for $1.4 billion, or $42 per share, in cash. That per-share price represents a premium of more than 23 percent over an offer Bayer made Oct. 30.

The German drugmaker said then that it would buy Schiff for $1.2 billion, or $34 per share, in another cash deal. A Bayer spokesman declined to comment Friday on the competing offer.

Schiff shares closed at $23.19 on Oct. 26, the last trading day before Bayer made its offer.

Schiff products include Tiger's Milk nutrition bars, Omega 3 supplement MegaRed, and Airborne immune system health supplements. Its portfolio includes brands in three of the largest health supplement segments joint care, cardiovascular health and immune support.

For its fiscal 2012, which ended May 31, Schiff posted revenue of $258.9 million, and net income of $13.7 million, or 47 cents per share. That was up from sales of $213.6 million, and earnings of $12.6 million, or 43 cents per share, for its prior fiscal year.

Reckitt Benckiser said it was confident Schiff's board of directors will chose its "superior proposal," and it believes it can get a deal done before the end of the year.

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Schiff Nutrition receives 2nd takeover offer