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Lonza Withdraws Bid to Acquire Patheon

2:22 AM MDT | October 20, 2009 | Deepti Ramesh

Lonza says it has withdrawn its previously announced non-binding proposal to acquire all of the outstanding restricted voting shares of pharmaceutical contract manufacturing and development services company Patheon (Toronto), due to “a combination of factors including value considerations, and the rejection of the Lonza proposal by the majority shareholder of Patheon.”  The proposal was rejected by private equity firm JLL Partners (New York), which owns 57% of Patheon, say press reports. Lonza submitted a non-binding proposal, in August, to...

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