- Vectura, the pharmaceutical company, has announced that it has received an increased offer from Phillip Morris.

The offer is 165p per Vectura share in cash, a premium of 10p per share compared to Murano Bidco’s price of 155p per share in cash.

The board of Ventura has also withdrawn its intention to recommend Carlyle’s offer.

It has not stated an intention to recommend the PMI offer. The Board will make a further announcement after the end of the auction.

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