Philip Morris Offer for Vectura Becomes Unconditional After Securing 75% Support
16 September 2021 - 8:53AM
Dow Jones News
By Adam Clark
Philip Morris International Inc. said Thursday that its offer
for Vectura Group PLC has become unconditional in all respects,
after it secured support representing 74.77% of the U.K.
inhaled-medicines company's share capital.
The U.S. tobacco company said that it had secured acceptances in
respect to 45.61% of Vectura shares and that it had acquired a
29.16% stake in the company.
Philip Morris bid 165 pence a share for Vectura, valuing the
company at roughly 1.1 billion pounds ($1.52 billion). That topped
a competing offer from Carlyle Group Inc. of 155 pence a share
Write to Adam Clark at adam.clark@wsj.com
(END) Dow Jones Newswires
September 16, 2021 02:38 ET (06:38 GMT)
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