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Vectura agrees to be acquired by Carlyle for £958m
StockMarketWire.com
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Inhaled-treatment focused Vectura said it had agreed to be acquired by by US investment firm Carlyle Group for about £958 million.
Vectura shareholders would receive 136p per share, which the company said represented a 32% premium to its closing price of 103p on Tuesday.
They also would be entitled to a 19p per share dividend.
While Vectura's directors remained confident in the long-term fundamentals of the company, the offer was 'attractive' and delivered 'future value for shareholders in cash today', chairman Bruno Angelici said.
'The offer reflects the quality, strength and long term performance of Vectura's businesses and its future growth potential,' he added.
'We believe that our people, our clients and our businesses will continue to prosper under the stewardship of Carlyle.'
Simon Dingemans, a managing director in Carlyle's European buyout advisory group said, the company believed it could accelerate Vectura's transformation 'significantly' with greater access to captital.
Story provided by StockMarketWire.com
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