Philip Morris nabs over 20% of Vectura's shares; Oncopeptides drug may be headed for adcomm, CEO says
About a week after Vectura’s board of directors said they would unanimously back a Philip Morris takeover, the tobacco giant now has control of more than a fifth of the respiratory drugmaker’s shares.
Shareholders with 22.61% of Vectura’s shares have tendered their stock to Philip Morris, Reuters reported on Wednesday. The move is part of the cigarette company’s $1.5 billion bid to buy Vectura. Philip Morris, best known for its Marlboro products, offered 165 pence per share, beating out a 155 pence per share offer by the private equity firm The Carlyle Group.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
