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Lonza offer a "significant improvment" on JLL bid, says chair of Patheon's special committee

21-Aug-2009

Related topics: Consolidation, Contract Manufacturing, Fill & finish, packaging

Swiss firm Lonza has tabled a $3.55 per share bid for Canadian CMO Patheon, bettering the $2 per share offered by investment group JLL.

In a press release Lonza CEO Stefan Borgas said: “An acquisition of Patheon would take us into the complementary activities of finished dosage development and manufacturing for both small molecule and biological active ingredients.”

Paul Currie, chairman of the special committee that Patheon initially set up to assess the JLL bid, said that the Lonza offer “would be a significant improvement,” for his company’s shareholders.

Lonza is due to hold a press conference later this morning. More details on OSP on Monday of next week.

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