The Cross-Border Biotech Blog

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

Globe and Mail Story on Patheon-JLL Battle

Hockey_fightBoyd Erman at the Globe and Mail wrote about JLL’s long battle for Patheon in this morning’s paper, following yesterday’s dueling press releases (which I tweeted about @crossborderbio, also appearing to your right on this blog). 

Particularly if you’re new to this saga, I encourage you to read the whole article; but for those who have been getting their info here, I’d note a few particular tidbits about the long and previously good history between the parties:

“… it was JLL’s investment of $150-million in Patheon two years ago that enabled the company to restructure and get through tough times …”


“… Patheon was struggling in large part because the 2004 acquisition of a Puerto Rican drug maker called MOVA had gone sour, becoming a big money-loser …”

and notably, clarifies that Viso was the former owner of MOVA.

Maher Yaghi, an analyst at Desjardins Securities who Erman quotes several times in the story, takes a Solomonic approach, reportedly pegging the valuation at $3.75/share which splits the difference between JLL’s USD$2 offer and the $5 valuation Patheon is sticking to (so far).

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One response to “Globe and Mail Story on Patheon-JLL Battle

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

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