M&As this week: Thermo Fisher Scientific, Norgine

18th May 2017 (Last Updated May 18th, 2017 18:30)

US-based biotechnology company Thermo Fisher Scientific has reached an agreement to acquire Patheon through a tender offer for $35 a share in cash.

US-based biotechnology company Thermo Fisher Scientific has reached an agreement to acquire Patheon through a tender offer for $35 a share in cash.

The purchase consideration for the acquisition will amount to $7.2bn, including the assumption of $2bn of net debt owed by the target company.

The target company is a Netherlands-based contract development and manufacturing organisation.

"Norgine has reached an agreement for the acquisition of Merus Labs International in a cash deal."

Norgine has reached an agreement for the acquisition of Merus Labs International in a cash deal.

The entire issued and outstanding common shares of the target company will be acquired at a price of $1.65 a share, which represents an enterprise value of approximately $342m for Merus Labs.

The acquisition will be financed through existing cash and recently secured credit facilities.

Netherlands-based Norgine specialises in gastroenterology, hepatology, cancer and supportive care, while Canadian firm Merus Labs is a specialist pharmaceutical company focused on oncology, women's health, cardiovascular, urology, infectious diseases.