Philip Morris International (PMI) has concluded its controversial £1.1bn takeover of UK health firm Vectura, becoming its majority shareholder, along with that of the Danish oral-products manufacturer Fertin Pharma.
Confirming the completion of the deal today, Vectura, which develops and manufactures inhalers, said that the offer from the Big Tobacco company – £1.65 per share – now becomes “unconditional in all respects”, meaning the remaining stakeholders cannot prevent it.
