The Carlyle Group axes auction by calling its $1.3B bid for Vectura 'final' — now the ball is in Philip Morris' court
Philip Morris has one final chance to show how serious it is about acquiring Vectura.
Just a day after reports surfaced about an auction that’s been set up to resolve a bidding war between the tobacco maker and The Carlyle Group, the private equity firm stated that its most recent offer — £958 million, or $1.3 billion — is final. That means it won’t get involved in the planned auction or go above what it concluded is a “full and fair” price for Vectura, which flopped as a drug developer but flourished after pivoting into formulating inhaled drugs for clients.
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