The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Patheon Special Committee Bites its Thumb at JLL’s Bid. Clubs, Bills and Partisans to Follow!

Following JLL’s commencement of its bid for Patheon yesterday, Patheon’s Special Committee released its response this morning advising shareholders that JLL’s offer is “substantially undervalued, opportunistic
and structurally coercive.”

Patheon shares closed up slightly at $2.55 (up 0.79% from $2.53 yesterday), approximately matching the gains made by the Canadian dollar (up 0.55% today).  JLL’s bid is in US dollars ($2 per share), so this fluctuation with the exchange rate is to be expected.

Bonus points if you don’t need to click this to get the reference in the title of the post .

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2 responses to “Patheon Special Committee Bites its Thumb at JLL’s Bid. Clubs, Bills and Partisans to Follow!

  1. Pingback: Monday Deal Review: March 16, 2009 « The Cross-Border Biotech Blog

  2. Pingback: Lonza Emerges as Patheon’s White Knight with $460 Million Bid « The Cross-Border Biotech Blog

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