Private equity giant Carlyle has been given more time to consider whether to pursue a deal for Vectura
Private equity giant Carlyle has been given more time to consider whether to pursue a deal for Vectura, after its bid was gatecrashed by tobacco company Philip Morris.
Carlyle’s £958 million offer for the pharma firm had included conditions which required meetings to have been held on the deal by August 3.
It has now agreed with Vectura to extend the deadline to August 24. An agreed takeover was scuppered by Philip Morris’s £1 billion approach. Vectura’s board initially recommended shareholders accept Carlyle’s offer, but later withdrew that recommendation in favour of the Philip Morris offer.
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