- Philip Morris International (NYSE:PM) raised its bid for the U.K.'s Vectura Group (OTCPK:VEGPF) to 165 pence a share, after private equity firm Carlyle Group (NASDAQ:CG) raised its offer to 155 pence on Friday.
- Philip Morris (PM) confirmed the increased bid in a statement to Reuters. Vectura makes drug delivery solutions for inhaled pharmaceuticals.
- Carlyle (CG) originally agreed to acquire Vectura (OTCPK:VEGPF) in late May, only to see a competing bid from Philip Morris (PM) in July.
- Last week, Philip Morris (PM) buying Altria (NYSE:MO) is teed up by Morgan Stanley as possibility again