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Carlyle Cancels Vectura Auction At Eleventh Hour As Bid Declared Final

Private Equity’s Offer Falls Short Of Rival Philip Morris

Executive Summary

Private equity group Carlyle has pulled the plug on a potential auction to take control of the UK-based Vectura group by declaring final its revised bid for the respiratory specialist. Tobacco giant Philip Morris had offered a 10% premium to Carlyle’s bid.

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