Philip Morris Buys 22.61% Stake in Vectura in Market Purchases
August 18 2021 - 4:35AM
Dow Jones News
By Adria Calatayud
Philip Morris International Inc. said Wednesday that it has
acquired a 22.61% stake in Vectura Group PLC through market
purchases and that it is seeking to buy more shares 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. Earlier this month, Carlyle
Group Inc. had made a rival bid for Vectura of 155 pence a share,
which it declared its final offer.
The U.S. tobacco company said that it bought 135.5 million
shares in Vectura at 165 pence each, in line with the price of its
latest offer, and that it is seeking to make further market
purchases at the same price.
Philip Morris said it is unable to purchase Vectura shares in
the market from shareholders incorporated or located in the U.S.,
or where the Vectura shares would be sold from the U.S. due to
regulatory requirements.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
August 18, 2021 04:23 ET (08:23 GMT)
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