Patheon (PTI) receives a US$3.55 a share offer
Shares of Patheon (TSX: T.PTI, Stock Forum) soared 35% to $3.48 on Friday as the provider of contract development and manufacturing services to the global pharmaceutical industry announced that Lonza Group AG, a supplier to the pharmaceutical, healthcare and life science industries, has submitted a non-binding proposal to acquire all of the outstanding Restricted Voting Shares of Patheon at a price of US$3.55 per Restricted Voting Share.
Lonza has signed a confidentiality and standstill agreement with Patheon. In turn, Patheon has also agreed not to negotiate an acquisition transaction with any party other than Lonza for a period ending September 30, 2009, subject to extension in certain circumstances.
On the Stockhouse Bullboards, poster Artemus_Jones “claims Jll's 9-month long war of attrition comes to an end plus they only get $3.55 for their $4.50 converted preferred shares now.”
This as fzer believes “38 cents (was) left on the table.”
Stockhouse Conflict and Disclosure Policy:
Stockhouse publishing Ltd., owners and operators of Stockhouse.com, has established the following rules to ensure that there is no appearance of impropriety on the part of any Stockhouse Editorial writers ("Writers"). The content of Stockhouse Editorial articles (the "Articles") are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.
Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different.
Writers may own, buy, or sell shares in public companies mentioned in their Articles, but in the Article they must prominently state their ownership position. Thus, a conflict may exist. Writers are not permitted to write Articles that attempt to benefit persons connected to the Writer, such as family or friends, except where disclosure is made in the same way as if the Writer him/herself owns stock.
Writers cannot solicit, accept, or agree to receive anything of value given or paid with the intent of influencing their Articles.
Stockhouse notifies each Writer about these rules, and we rely on the integrity of our Writers to ensure that our rules are followed.
