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Vectura Heads To Auction As Carlyle And Philip Morris Raise Stakes

Both Parties Submitted Increased Proposals For UK Respiratory Firm

 
• By Dean Rudge

Private equity group Carlyle and tobacco giant Philip Morris International are caught in a tug-of-war for UK-based respiratory specialist Vectura, after submitting revised bids for the company.

Philip Morris Logo Magnifying Glass
Philip Morris raised its bid following renewed interest from Carlyle • Source: Alamy

The UK-based Vectura Group plc group has found itself at the center of a power struggle between private equity firm Carlyle and tobacco giant Philip Morris International after both parties raised their prospective bids to take control of the company but did not declare them final, meaning an auction will now decide the victor.

The auction process is set to kick off tomorrow, Tuesday 10 August at 5pm UK time, “assuming that a competitive situation continues to exist

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