Patheon (PTHN) shares spiked after the provider of outsourced pharmaceutical development and manufacturing services was purchased by Thermo Fisher Scientific(TMO) - Get Report for $7.2 billion including debt.
Thermo Fisher's offer of $35 per share represents a 35% premium over the stock's previous closing price. The deal is expected to close by the end of the year and add 30 cents per share to Thermo Fisher's bottom line in the first year.
Patheon shares rose 33.12% to $34.61 Monday.
Editor's note: this article has been updated since 7:53 am EST
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