Vectura Share Discussion Threads

[gregb] 30/6/2021 08:54

For what it's worth, I've voted against the deal out of pure frustration of the Boards lack of vision.

[gbcol] 30/6/2021 08:14

What’s the general view here on which way to vote?

From my point of view, it’s not a great deal but frankly I’m ready to move on from this share, so will almost certainly vote for, albeit somewhat begrudgingly.

Cut off day for me to vote is 5 July. I expect they will have an idea already how many institutions are going to vote in favour. Always the chance of an slightly increased offer if vote looks tight but I’m not banking on it.

[jimboyce] 30/6/2021 07:43

Pressure growing by fund managers to reject undervalued bids by US predators. It seems to be a current theme. There may me more to come for Vectura Shareholders if the initial bid is voted down.

[vecturaking] 24/6/2021 07:25

(Alliance News) - Vectura Group PLC on Friday released scheme documents for its GBP958 million takeover by funds managed by private equity firm Carlyle Group Inc.

The Wiltshire-based pharmaceutical company will hold general and court meetings on July 12 for shareholders to vote on the acquisition, which was agreed at the end of May.

Vecture plans to hold a court hearing to sanction the scheme two weeks after regulatory conditions are met. The hearing is expected to be in the third quarter of 2021, with a long stop date of November 26. Trading in Vectura shares will be suspended the next day before being de-listed two days after the hearing.

Vectura shares were trading flat at 136.61 pence each in London on Friday afternoon.

Carlyle will pay 136p per share for Wiltshire-based drug maker Vectura, while shareholders will be entitled to a further 19p per share interim dividend.

By Scarlett Butler; [e-mail]

Copyright 2021 Alliance News Limited. All Rights Reserved.

[popper joe] 23/6/2021 10:54

alord, the letters of consent were consent for their names to be printed in the scheme document in the context that they were. I.e. to describe their roles in the process. E.g. advisors to the board of VEC or as advisors to Bidco. None of the consent letters were with regard to consent to the offer.

[a1ord53] 23/6/2021 10:38

It looks like most major shareholders sent letters of consent to Vectura.
So no bid improvement , if I understood correctly.
When this deal will be closed and paid ?
Thanks in advance .

[vecturaking] 22/6/2021 10:39

No offence

It’s being Smart

But some people only learn the hard way

[jimboyce] 22/6/2021 09:54

Promising that institutions taking new positions. Something is a foot.......

[davr0s] 21/6/2021 22:05

Don't take offence but I don't listen to stock tips on bulletin boards. No intention of selling here to buy Morrison's. And how and where precisely did you hear it's game over here?

[jimboyce] 21/6/2021 20:59

This is an interesting appointment......Hikma appoints Patrick Genestin to lead Generics Business DevelopmentSource: PR Newswire (US)LONDON, June 9, 2021 /PRNewswire/ -- Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, announces that Patrick Genestin has been appointed Vice President, Business Development, Generics. Mr. Genestin brings to Hikma more than 25 years of experience in the pharmaceutical industry as a results-driven executive with strong financial, business development and M&A experience. He will be based at the company's US headquarters in Berkeley Heights, NJ.(PRNewsfoto/Hikma Pharmaceuticals USA Inc.)In this role, Mr. Genestin is responsible for driving pipeline strategy and identifying new growth opportunities for Hikma's Generics business, including leading the execution of licensing and M&A deals, proactively identifying business development opportunities and maintaining and growing Hikma's contract manufacturing (CMO) business."Patrick is an established business development leader whose extensive industry experience will be critical to Hikma as we build on our successful track record," said Brian Hoffmann, President, Hikma Generics. "His expertise will be instrumental in helping us to develop new partnerships and acquire new products that will bolster our differentiated pipeline. He will also work to leverage our state-of-the-art Columbus, Ohio manufacturing facility by identifying new contract manufacturing opportunities, and will explore new growth areas including commercializing our portfolio outside of the US.""I am excited to be joining Hikma at an important time for the company and the Generics business," said Mr. Genestin. "With its strong manufacturing capabilities and outstanding facilities, excellent quality record, and proven ability to commercialize, Hikma's Generics business has long been seen as a partner of choice in the industry. I look forward to working together with Hikma's excellent team to build on this position of strength, lead our pipeline strategy, help deliver continued growth and ensure that important generic medicines continue to be made available to the patients who rely on them."Prior to joining Hikma, Mr. Genestin served as Vice President, Business Development & Licensing and Mergers & Acquisitions for the US entity of Sandoz, Inc. A native of France, Mr. Genestin received his bachelor's degree from L'Ecole Superieure de Commerce de Nantes and holds an M.B.A. in Finance from Penn State University

[vecturaking] 21/6/2021 15:01

If you are looking for a higher offer
You may find it in Morrison’s
There the board rejected the cash bid

Hear the Game is over Vectura bought on the cheap in my view with the recommendation of the board

[jimboyce] 21/6/2021 14:52

Mind games then......

[boadicea] 21/6/2021 14:41

If there is a competing offer I would tend to expect it at a fairly late stage for a number of reasons. First, it maximises the time for the new suitor to do the sums and secondly, the share price will likely have sunk to a small discount on the possibility of the deal not getting the required 75% support. The latter would make any offer seem relatively more generous.

[aceuk] 21/6/2021 14:35

Nobody turned up when we got ripped off by Vectura for Skyepharma what seems like a lifetime ago. This business has less possible product future so who would want it other than a break-up merchant?

[gbcol] 21/6/2021 14:13

Well possibly. Time will tell. Hope there is a better offer obviously, this one isn’t great, but if it doesn’t come I’ll take my 136p a share and my half decent profit when the time comes and enjoy it. Won’t bother selling anymore now.

[davr0s] 21/6/2021 13:49

Think you over analyse. Peeps here were talking about another offer when price was higher and now reverse ferret. I've no idea. Just takes one RNS. I may not hang around to the bitter end but pre vote the risk of downside is pretty limited so potential high reward to risk

[gbcol] 21/6/2021 13:16

IMO clearly not expected as share price has dropped from a circa 6p premium when it was first announced to below offer price now. If a better offer was expected share price would still be at a premium. Obviously I’d be delighted to be wrong and an enhanced is made.

[davr0s] 21/6/2021 13:04

Why is there clearly no alternative offer expected now. Agree less likely but not sure you can conclude it's not still possible ?

[alex2727] 21/6/2021 12:22

I also sold a third between 141/142p and happy to sit the rest out in the hope of a better offer.

Of interest are those IIs prepared to take the same punt; either existing holders prepared to stay put, or new names entirely declaring holdings over 1% in the last couple of weeks and still adding: Berry Street Capital, Samson Rock, Man Group, National Farmers Union, BBVA Asset Management, Societe General, Santander Asset Management, Millenium Partner, GWM Asset Management, Alpine Associates.

I guess they would have better access to the largest shareholders to find out their view of the offer, and their intentions on voting.

Watch this space!

Alex

[gbcol] 21/6/2021 12:04

JB, I would argue it’s more normal that share price is below the offer price, unless an improved offer is expected (which clearly it isn’t here now). You can wait until 3rd quarter for 136p or take a bit less by selling now.

I sold about a third of my holding at about 141/142p equivalent just after the announcement, expecting or hoping for an improved offer, but guess I’m going to have to wait a few months now for my 136p on the rest as don’t think anything better is coming.

At least the BOD have been consistent, poor til the end.

[gregb] 21/6/2021 12:04

Because I've just voted against the takeover :-)Seriously though, I was wondering the same.

[jimboyce] 21/6/2021 11:49

Forgive me, but how can this go below 136p?

[taffy100] 21/6/2021 05:47

Incannex Healthcare (ASX:IHL) partners with Vectura for traumatic brain injury drug development

[boadicea] 16/6/2021 14:55

Can anyone explain to me how and why this disclosure does not invalidate the current proposed offer?


I note that several institutions are increasing their long positions, e.g. Water Island, Samson Rock, GWM etc.

[popper joe] 15/6/2021 21:32

Not sure about having a few more weeks before trading ceases, but we have a few more weeks before shareholders vote. Up to now, we only know of 582592 shares voting in favour of the deal. That's the sum total of the board's commitment to Vectura. Oh, and Paul Fry's Dad has 500. Haha. 0.1% of total shares and they need 75% in favour. I've not seen any reports or comments from any institutions stating that they are or are not in favour of the deal.