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Market: TSX
Sector: Medical
Epic: TSX:PTI
News: Latest news
Web Site: Patheon Inc
Other Articles: 16-07-200927-04-200906-03-2009

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Wednesday March 17, 09:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Wednesday March 17, 09:25Wise-Owl puts speculative buy on Magma Metals

In the "Small-Cap Spotlight", as featured in the Australian, by Wise-Owl.com’s Tim Morris, runs the ruler over Magma Metals.

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Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Patheon Inc

Patheon Inc

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.
Friday, February 20, 2009

Patheon rejects JLL Partners’ US$2 cash per share bid for co

Patheon Inc has rejected the unsolicited approach by JLL Patheon Holdings LLC, an affiliate of private equity group JLL Partners Inc, to buy the shares in Patheon it does not already own at US$2.00 apiece, as it substantially undervalues the company, its earnings potential and future growth prospects.

 Patheon said it is rejecting the offer, tabled on December 8 2008, for the issued and outstanding restricted voting shares following a valuation by independent financial advisor BMO Capital Markets, which places the value of the shares at between US$4.20 and US$5.00 per share.

JLL currently holds approximately 30 percent of the shares.

The company’s special committee believes that the JLL proposal is opportunistic and, when announced, was attempting to take advantage of a rapidly declining stock market and its impact on Patheon's share price. The JLL proposal was also made immediately before Patheon announced positive results for fiscal 2008.

It also believes that the JLL proposal would provide far less value to shareholders than could be achieved if Patheon were to continue as an independent company and successfully execute its five-year strategic plan.

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