RTTNews | Jul 9, 2021 02:29AM EDT

02:28 Friday, July 9, 2021 (RTTNews.com) - PMI Global Services Inc., a wholly owned direct subsidiary of Philip Morris International Inc. (PM), said that it reached agreement to buy Vectura Group plc (VEC.L) for 150 pence per share in cash.

The cash consideration represents a premium of approximately 10 per cent to the cash consideration of 136 pence per Vectura Share under the terms of the Carlyle Offer.

The cash consideration of 150 pence per share and the interim dividend of 19 pence per Vectura Share which was paid on 11 June 2021 together value the Vectura Shares at 169 pence each. The deal Value values the entire issued and to be issued ordinary share capital of Vectura at about 1.045 billion pounds.

Vectura said its directors have withdrawn their recommendation of the Carlyle Offer and will adjourn the Carlyle Offer Shareholder Meetings convened for 12 July 2021.

On 26 May 2021, Vectura and Murano, a newly formed company indirectly controlled by funds managed by Carlyle Europe Partners V, announced that they had agreed the terms of an acquisition of the entire issued and to be issued ordinary share capital of Vectura by Murano, to be implemented by a scheme of arrangement.

Read the original article on RTTNews ( https://www.rttnews.com/3207987/vectura-agrees-to-be-acquired-by-philip-morris-int-l-withdraws-carlyle-offer-recommendation.aspx)

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