Published on October 15, 2009 at 4:19 AM
Lonza Group AG ("Lonza") and the Special Committee of Independent Directors of Patheon Inc. ("Patheon" or the "Company") (TSX:PTI) today announced the extension of the exclusivity period granted to Lonza by Patheon, which had been scheduled to expire today. The extension allows for continued discussions regarding possible strategic transactions between Patheon and Lonza. The period of exclusivity will continue until terminated by either party by notice to the other. Other terms of the exclusivity arrangements will continue to apply.
Lonza and Patheon are continuing to explore various strategic options that are in the best interests of the two companies. In view of the announced position of JLL Patheon Holdings LLC ("JLL") that it is not prepared to sell its shares of Patheon at this time, these discussions include potential transactions that do not require the sale of JLL's shares. There can be no assurance that any transaction involving the Company and Lonza will be completed or as to the terms of any such transaction.
Source: PATHEON INC.
Source: LONZA GROUP AG