Thermo Fisher pulls in funding as it preps for Patheon acquisition

By Melissa Fassbender

- Last updated on GMT

(Image: iStock/monsitj)
(Image: iStock/monsitj)

Related tags Thermo fisher scientific Stock

Thermo Fisher Scientific has announced offerings of common stock after extending its tender offer to purchase Patheon.

The offering is expected gross proceeds of approximately $1.5bn.

Per the company’s SEC filing​, “the company intends to use all of the net proceeds of the offering to fund a portion of the consideration payable for the acquisition of Patheon N.V​.”

Thermo Fisher Scientific announced its intention​ to buy Patheon in May, at which time the company said it would finance the purchase price with debt of $5.2bn and $2bn in equity.

Last week, Thermo Fisher announced that it has extended the offering period of the all-cash tender offer to purchase all of the outstanding ordinary shares of Patheon N.V.

According to the company, the tender offer is being extended to coordinate with the timing of two regulatory approvals in the European Union and Brazil.

The transaction is now expected to be completed by the end of the third quarter of 2017.

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