09:39 AM EST - Patheon Inc. : remains a takeover target of JLL Partners Inc. and its affiliate, JLL Patheon Holdings, LLC. The latter company announced that as of on July 13, 2009, a total of 33.84 million Restricted Voting Shares in the capital of Patheon Inc. have, since commencement of the offer, been validly deposited to JLL's offer to acquire, at a price of $2.00 U.S. cash per Restricted Voting Share, all of the issued and outstanding Restricted Voting Shares of Patheon. Payment will be made on or before July 16, 2009 to Patheon shareholders who have validly deposited their Restricted Voting Shares under the Offer since June 29, 2009. The Restricted Voting Shares taken up since the Offer was launched represent about 38% of the outstanding Restricted Voting Shares of Patheon not already owned by JLL or its affiliates and associates. Together with the Restricted Voting Shares owned prior to the Offer, JLL or its affiliates and associates now own 35.49 million Restricted Voting Shares of Patheon or approximately 39% of the outstanding Restricted Voting Shares of Patheon. JLL also holds 150,000 convertible preferred shares convertible into Restricted Voting Shares representing approximately 29% of the currently issued and outstanding Restricted Voting Shares on an as-converted basis. JLL also announced that it has extended the Offer which will now expire 10 days from the mailing of a formal notice of extension. Patheon Inc.
shares T.PTI are trading even at $2.80.
