Philip Morris Heats Up Race for Vectura With $1.4 Billion Bid - Bloomberg

Philip Morris International Inc. heated up the race for Vectura Group Plc with a bid valuing the U.K. asthma drug maker at more than 1 billion pounds, trumping an offer from Carlyle Group Plc.

The maker of Marlboro cigarettes on Sunday offered 165 pence per share for Vectura after Carlyle on Friday offered 155 pence. The new bid values Vectura’s shares at about 1.02 billion pounds, or $1.4 billion.

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