UK health firm, which makes asthma inhalers, said the tobacco company’s bid was ‘fair and reasonable’
The board of the UK asthma inhaler maker Vectura has unanimously recommended that shareholders accept a controversial £1.1bn takeover bid from the tobacco company Philip Morris International, despite warnings from health charities and public health experts.
The Vectura board said it considered the terms of the final PMI offer “fair and reasonable”. They added that “wider stakeholders could benefit from PMI’s significant financial resources and its intentions to increase research and development investment and to operate Vectura as an autonomous business unit that will form the backbone of its inhaled therapeutics business”.
