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US$ 1.45bn Offer for Vectura PLC by Philip Morris International

US$ 1.45bn Offer for Vectura PLC by Philip Morris International

US-Listed tobacco giant Philip Morris International (PMI)'s long term plan is to develop "smoke-free" products and switch to being a "broader healthcare and wellness" company. As part of its strategy, PMI launched at £STG 1.1bn offer for the London-listed inhaler maker Vectura plc.

A challenge was due to the size of the mailing and the schedules involved: Vectura had 10,000 shareholders, to all of whom hard copy Offer documentation needed to be sent. In addition, a relatively short window was tabled for the exercise: just 24 hours.

Due to our unrivalled in-house firepower, we were selected to help the client and its advisors meet these ambitious deadlines. We typeset the documentation within a few hours and, once signed-off, personalised, printed and mailed 10,000 copies of an 80 page Offer document and Form of Acceptance, all within 24 hours.

The result? The client and advisors met their deadlines and the mailing went smoothly, helping PMI fulfil its long term plans in a transformational deal for the company.

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