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Vectura sets meeting date for GBP958 million takeover by Carlyle

Fri, 18th Jun 2021 13:01

(Alliance News) - Vectura Group PLC on Friday released scheme documents for its GBP958 million takeover by funds managed by private equity firm Carlyle Group Inc.

The Wiltshire-based pharmaceutical company will hold general and court meetings on July 12 for shareholders to vote on the acquisition, which was agreed at the end of May.

Vecture plans to hold a court hearing to sanction the scheme two weeks after regulatory conditions are met. The hearing is expected to be in the third quarter of 2021, with a long stop date of November 26. Trading in Vectura shares will be suspended the next day before being de-listed two days after the hearing.

Vectura shares were trading flat at 136.61 pence each in London on Friday afternoon.

Carlyle will pay 136p per share for Wiltshire-based drug maker Vectura, while shareholders will be entitled to a further 19p per share interim dividend.

By Scarlett Butler; scarlettbutler@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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