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Lonza Ends Talks To Buy Patheon

Lonza has withdrawn its offer to acquire Patheon

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lonza has withdrawn its offer to acquire Patheon. Patheon’s Special Committee of Independent Directors and Lonza also mutually agreed to terminate discussions regarding other possible strategic transactions between Lonza and Patheon.

When Lonza’s proposal was made public in August, JLL Patheon Holdings LLC, which holds 57% of the Patheon’s outstanding restricted voting shares, announced that it rejected the proposal and would not support any transaction involving a sale of its shares of Patheon. Lonza offered $3.55 for each share of Patheon, a premium over JLL’s earlier $2.00/share bid to take the company private.

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