Philip Morris seals deal to buy Vectura with 75% of shares tendered

Cigarette maker Philip Morris International (PMI) said on Thursday it had received about 75% of Vectura shares from shareholders as part of a public tender offer process to acquire the British company.

"We have reached an important milestone in our acquisition of Vectura and are pleased to have secured over 74% of the company's shares, in excess of the 50% required to make our offer unconditional and PMI the majority shareholder," said PMI Chief Executive Officer Jacek Olczak.