By Adam Clark

Philip Morris International Inc. said Thursday that its offer for Vectura Group PLC has become unconditional in all respects, after it secured support representing 74.77% of the U.K. inhaled-medicines company's share capital.

The U.S. tobacco company said that it had secured acceptances in respect to 45.61% of Vectura shares and that it had acquired a 29.16% stake in the company.

Philip Morris bid 165 pence a share for Vectura, valuing the company at roughly 1.1 billion pounds ($1.52 billion). That topped a competing offer from Carlyle Group Inc. of 155 pence a share

Write to Adam Clark at adam.clark@wsj.com

(END) Dow Jones Newswires

September 16, 2021 02:38 ET (06:38 GMT)

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