leadf
logo-loader
viewVectura Group PLC
(
AIM:VEC
)

UK government urged to block Philip Morris takeover of Vectura

The 150p-per-share all-cash takeover was launched last Friday

Vectura Group PLC -
Vectura helps people with COPD or smoker's cough

Anti-smoking groups are urging the UK government to block the £927mln bid for respiratory drugs group Vectura Group PLC (LON:VEC) from tobacco giant Philip Morris International

A host of lobby groups have complained to the government about the deal, the Times reported, including the Tobacco Control Research Group, which is a research partner in STOP, Cancer Research UK and Action on Smoking and Health (Ash).

Medical research charities, meanwhile, are said the be “horrified” at the deal, reported the paper, and want the government to “work to ensure the future of this vital company is not in any way at risk”.

Jon Ashworth, Labour’s shadow health secretary, and Ed Miliband, the shadow business secretary, have also both urged the government to intervene.

Business Secretary Kwasi Kwarteng has asked officials to investigate the rationale for the Marlboro cigarettes maker to buy Vectura, given that the drugs it develops are used to treat diseases often caused by smoking.

A clause in the Enterprise Act 2002 gives powers “to intervene in mergers and acquisitions to mitigate the effects of public health emergencies”.

A spokesman for the Department for Business, Energy and Industrial Strategy said: “While this is primarily a commercial matter for the parties concerned, the government is monitoring the situation closely.”

The 150p-per-share all-cash takeover was launched last Friday.

Quick facts: Vectura Group PLC

Follow
AIM:VEC

Price: 164.8 GBX

Market Cap: £987.95 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Hochschild Mining reveals 'profitable' PEA on its heavy rare earths project...

Hochschild Mining Head of Investor Relations Charles Gordon joined Proactive New York to discuss the Peru-based gold and silver miner's recent developments within its heavy rare earths project, recently renamed Aclara. Gordon says the group recently revealed a preliminary economic assessment...

14 hours, 1 minute ago

2 min read