UK pharma Vectura snapped up by US private equity giant Carlyle for £958m
British pharmaceuticals company Vectura today said it had agreed a £958m takeover by global investment firm Carlyle.
Shareholders will receive 136p in cash plus a dividend of 19p per share under the terms of the offer.
This represents a 32 per cent premium on the ex-dividend closing price of the stock yesterday.
Following the announcement, shares in Vectura shot up 32 per cent as markets opened.
Vectura, which specialises in inhaled medicines, said it had made progress since embarking on a strategy in 2019 to become a leading inhalation-focused company.
It has 13 key inhaled and 11 non-inhaled products marketed by partners with global royalty streams, and a diverse portfolio of drugs in clinical development.
Chairman Bruno Angelici said that while the board remained confident in the group’s strategy, the “attractive offer” secured future value for shareholders in cash today.
Wiltshire-based Vectura is also currently working on a Covid-19 treatment.
Vectura’s board backed the deal and the takeover is expected to finalise in the third quarter if it cleared.