Thermo Fisher Scientific and Patheon together announced that their boards of directors have approved Thermo Fisher’s acquisition of Patheon at a price of $7.2 billion. Thermo Fisher will commence a tender offer to acquire all of the issued and outstanding shares of Patheon for $35.00 per share in cash.
Patheon has an extensive network of state-of-the-art facilities primarily in North America and Europe, and approximately 9,000 professionals worldwide. The company generated 2016 revenue of approximately $1.9 billion and will become part of Thermo Fisher’s Laboratory Products and Services Segment.
Thermo Fisher Scientific president and CEO, Marc N. Casper said that Patheon’s development and manufacturing capabilities are an excellent complement to their industry-leading offering for the biopharma market. Their combined capabilities will enhance their unique value proposition for these customers, create significant value for our shareholders and further accelerate their company’s growth.
Patheon CEO, James C. Mullen said that Over the past several years, they have increased their capabilities to become a leading CDMO provider in a highly fragmented market. They are confident that their combined offerings and Thermo Fisher’s proven track record of disciplined M&A and successful integrations will take their business to the next level. They also look forward to welcoming their new colleagues from Patheon to Thermo Fisher. Patheon’s commitment to quality and service excellence is directly aligned with their focus on helping their biopharma customers accelerate innovation and drive productivity.