Inhaler Manufacturer Board Approves Takeover By Tobacco Company
The board members of Vectura, a manufacturer of inhalers and inhaled drugs, have approved a $1.4bn takeover bid by Philip Morris International, the manufacturer of Marlboro cigarettes.
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Private equity group Carlyle has pulled the plug on a potential auction to take control of the UK-based Vectura group by declaring final its revised bid for the respiratory specialist. Tobacco giant Philip Morris had offered a 10% premium to Carlyle’s bid.
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