Offer for UK company from Marlboro cigarettes maker had alarmed medical experts
US private equity firm Carlyle has made an improved £958m takeover offer for British inhaler maker Vectura, trumping an earlier bid from tobacco company Philip Morris International that had alarmed medical experts.
Carlyle said on Friday it would offer 155p a share for Vectura, higher than its previous offer of 136p in May and outbidding a 150p offer from Marlboro cigarettes maker Philip Morris International (PMI) last month.
Vectura bosses recommended that shareholders vote in favour of the improved Carlyle offer, and withdrew its previous advice that they approve the PMI offer.