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Philip Morris seals deal to buy Vectura with 75% of shares tendered By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO. The Philip Morris International research and development headquarters can be seen next to Neuchatel, Switzerland’s tobacco factory. This was March 17, 2017. Photo taken March 17, 2017. REUTERS/Paritosh Bansal/File Photo

(Reuters) – Cigarette maker Philip Morris International (NYSE:) (PMI) said on Thursday it had received about 75% of Vectura shares from shareholders as part of a public tender offer process to acquire the British company.

Jacek Oloczak, chief executive officer of PMI, stated that Vectura has reached an important landmark. “We are proud to have obtained over 74% share of Vectura. We have also exceeded the required 50% to make our offer unconditional and PMI the major shareholder.”

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