UPDATE 1-Patheon talks with Lonza continue

2009年 9月 17日 星期四 20:37 BJT
 

* Lonza continues due diligence on Patheon bid

* Patheon, Lonza also discussing other options

* Exclusivity period ends Sept. 30 (Adds details. In U.S. dollars)

TORONTO, Sept 17 (Reuters) - Canadian contract drug manufacturer Patheon Inc (PTI.TO: 行情) said on Thursday that due diligence related to the takeover bid from Lonza Group (LONN.VX: 行情) was proceeding and that it was also discussing a number of strategic opportunities with the Swiss company.

The special committee for Patheon also repeated its support for Lonza's bid over that of major shareholder JLL Partners.

Last month Lonza offered the Canadian company $3.55 per share, or some $450 million.

That offer was rejected by U.S.-private equity company JLL Partners, which owns 57 percent of the company, even though a special committee of Patheon investors wants to keep the door open to a Lonza deal.

Patheon said on Thursday the strategic opportunities "would be beneficial to the company and its shareholders and "can be completed without the concurrence of JLL."

The exclusivity period Lonza and Patheon expires on Sept. 30. ($1=$1.07 Canadian) (Reporting by Scott Anderson)

 
 

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