The Carlyle Group buys Vectura Group in £958m deal
By Dan Moore
08:27, 26 May 2021
Vectura Group, a pharmaceutical company that concentrates on inhaled medicines, has been purchased by global investor The Carlyle Group for £958m ($1.36bn).
As a result of the agreement, which was announced early on Wednesday, shareholders will get 136p in cash, plus a 19p a share dividend, which represents a 32% premium on the ex-dividend closing price as of Tuesday.
Leading inhaled product provider
The purchase of Vectura marks the latest development in the company, which set out its plans to become a leading inhalation-centred contract development and manufacturing organisation just two years ago.
Vectura provides 13 key inhaled and 11 non-inhaled medical products, including the Flutiform asthma drug, which are marketed by partners, including Novartis, GSK, Bayer and Tianjin KingYork, with global royalty streams.
Vectura shares leapt 31% to 160p following the announcement that the pharmaceutical firm had been purchased by US private equity company The Carlyle Group.
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“An attractive offer”
Commenting on the takeover Vectura chairman Bruno Angelici said: “While the Vectura directors remain confident in the long-term fundamentals of the Vectura Group, we believe that this is an attractive offer for Vectura Shareholders, which secures the delivery of future value for Vectura Shareholders in cash today.
“The offer reflects the quality, strength and long-term performance of Vectura’s businesses and its future growth potential. We believe that our people, our clients and our businesses will continue to prosper under the stewardship of Carlyle.”