NEW YORK CITY (dpa-AFX) - Philip Morris International (PM) said it has noted the revised Carlyle Offer, and so increased offer for Vectura Group plc (VEC.L). The new offer values the entire issued and to be issued ordinary share capital of Vectura at approximately 1.02 billion pounds. For each Vectura share, shareholders shall be entitled to receive 165 pence in cash.
Philip Morris International plans to operate Vectura as an autonomous business unit that will form the backbone of PMI's inhaled therapeutics business. The offer price will be funded from the PMI Group's existing cash resources.
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