www.patheon.com
Patheon is a leading provider of contract development and manufacturing services to the global pharmaceutical industry. Patheon's technologies and services range from pre-clinical development to manufacturing a full array of dosage forms.
JLL Partners to buy remaining Patheon stake for US$2 cash per share
JLL Patheon Holdings LLC, an affiliate of private equity group JLL Partners Inc, today announced that it intends to commence an offer for the issued and outstanding restricted voting shares of Patheon Inc that it does not already own at US $2.00 cash per share.
The offer price represents a 138 percent premium over the closing price of the restricted voting shares on the TSX on December 5, 2008, and an 81 premium premium over the average per share closing price during the thirty-day period up to and including December 5 2008.
JLL currently beneficially owns approximately 30 percent of the outstanding restricted voting shares of Patheon.
Mailing of the offer will take place shortly after receiving the formal valuation and is not contingent on the support of Patheon's board.
The offer is fully financed by JLL and will not require the company to incur any incremental debt.
JLL hopes to be in a position to mail the take-over bid circular in January 2009.



















