Philip Morris Raises Vectura Stake to 29.16%; Doesn't Plan Further Purchases
19 August 2021 - 10:50AM
Dow Jones News
By Adria Calatayud
Philip Morris International Inc. said Thursday that it has
raised its stake in Vectura Group PLC to 29.16% after buying shares
worth 64.8 million pounds ($89.1 million), but that it doesn't
currently plan to make further purchases.
The U.S. tobacco company said it acquired 39.3 million Vectura
shares at 165 pence each, taking its total holding to 174.8
million.
On Wednesday, Philip Morris said it had taken a 22.61% stake in
Vectura through market purchases and that it would make further
share acquisitions in the market.
U.K. inhaled-medicines company Vectura last week said that its
directors planned to unanimously recommend to shareholders a
takeover offer from Philip Morris that valued it at 165 pence a
share. Earlier this month, Carlyle Group Inc. had made a rival bid
for Vectura of 155 pence a share, which it declared its final
offer.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
August 19, 2021 04:42 ET (08:42 GMT)
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