Patheon take-private deal closed, company forms part of JLL-controlled DPx
Patheon Inc (TSX:PTI), a provider of drug development and manufacturing services, has completed the previously announced deal to take the company private. That transaction, which valued company at US$1.4 billion, will result in Patheon being amalgamated with JLL/Delta Canada Inc, an indirect subsidiary of DPx, formed by U.S. private equity firm JLL Partners and Dutch food and chemicals group Royal DSM in a separate US$2.65 billion deal. Patheon will continue to carry on business under its own name. At the time of the Patheon deal announcement in November 2013, the proposed offer of US$9.32 per share implied a US$582 million payout to investors other than JLL, which has had a major stake in Patheon since 2007. DPx, which is based in Durham, North Carolina, is 51% owned by JLL and 49% by Royal DSM. Patheon was found in Fort Erie, Ontario, in 1974.
