Carlyle Europe Makes 155 Pence a Share Offer for Vectura Final
August 10 2021 - 12:14PM
Dow Jones News
By Joe Hoppe
Carlyle Europe Partners V said Tuesday that it won't increase
its offer of 155 pence (215 cents) a share for Vectura Group PLC to
match Philip Morris International Inc. and that its offer is now
final.
Carlyle said that its offer, which is lower than the 165 pence a
share offered by Philip Morris for the inhaler maker, is full and
fair and it won't raise its own bid. As a result, a proposed
auction procedure due to start on Wednesday won't take place.
Earlier on Tuesday, Philip Morris switched its GBP1.02 billion
acquisition of Vectura to a takeover offer from a scheme of
arrangement.
"Carlyle believes its offer is in the best interests of the
business and its stakeholders, including its employees, partners
and customers, as well as, most importantly, the patients it serves
and helps to provide with effective and accessible medicines,"
Simon Dingemans, a managing director in Carlyle's European buyout
advisory group said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
August 10, 2021 12:05 ET (16:05 GMT)
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