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Carlyle Cancels Vectura Auction At Eleventh Hour As Bid Declared Final

Private Equity’s Offer Falls Short Of Rival Philip Morris

 
• By Dean Rudge

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.  

Philip Morris Logo Magnifying Glass
• Source: Alamy

A proposed auction to take control of the UK-based Vectura Group plc has come swiftly to a halt after one of the company’s bidders, the private equity firm Carlyle, declared its offer final.

Carlyle’s Murano Bidco fund declared it would not raise its 155 pence ($2.15) per share offer for the respiratory specialist,...

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