Vectura shares spurt 34% to 4-year high as it agrees on £958m Carlyle takeover

Follow us on Google News:
 Vectura shares spurt 34% to 4-year high as it agrees on £958m Carlyle takeover
Image source: Monika Gruszewicz, Shutterstock

Summary

  • Vectura Group shares rallied very sharply on Wednesday, 26 May, hitting a 4-year high
  • The drugmaker has agreed on the terms of acquisition with Carlyle Group
  • Bidco will be acquiring all the share capital of Vectura for a cash consideration of £958m

Shares of Vectura Group Plc (LON: VEC), the Chippenham-headquartered drugmaker, rallied very sharply on Wednesday, 26 May, after the company agreed on the £958 million takeover by Carlyle Group Inc. The stock opened a little more than 31 per cent higher in the trade today, reacting to the early morning disclosure by the company.

With more than $260 billion worth of assets under management (AUM) as of 31 March 2021, Carlyle Group principally deploys the money on the behalf of its investors and the portfolio companies.

Also Read | FTSE 100 stays in red as investors’ conundrum continues

According to the historical data available with the London Stock Exchange, the stock of Vectura registered at least a 4-year high on Wednesday. The stock was trading up 32.84 per cent higher at GBX 162.06. Earlier in the mid-morning session, the stock made a 4-year high of GBX 163.80, up 34.26 per cent from the previous close of GBX 122.

Vectura shares (26 May)

Image Source: REFINITIV

 

The stock of Vectura emerged as the biggest gainers among the 250-constituent mid-cap indicator FTSE 250. Also, it was one of the biggest positive points contributors to the market index.

Unusually high trading volumes were seen in the shares of Vectura with over 21.63 million shares exchanging hands up until 1517 BST, translating into a net traded turnover of more than £15.07 million.

Also Read | Marks & Spencer Posts A Loss Of £201.2 Million; Clothing & Home Sector Worst Hit

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles