JLL Reiterates Rejection of Lonza Group AG's Non-Binding Acquisition Proposal for Patheon Inc.; JLL Views Lonza Proposal as Hostile Attempt to Harm Patheon Through Inappropriate Access to Patheon Confidential Information


    NEW YORK, Aug. 27 /CNW/ -- JLL Partners, Inc. and its affiliate, JLL
Patheon Holdings, LLC (collectively, "JLL"), today reiterated that they have
rejected the non-binding proposal by Lonza Group AG (SIXX: LONN) to acquire
all of the outstanding Restricted Voting Shares of Patheon Inc. (TSX: PTI)
(the "Lonza Proposal").  By press release issued on August 21, 2009, and
through separate letters and phone calls to Lonza's Supervisory Board of
Directors and Chief Executive Officer and to the special committee of the
Patheon Board of Directors (the "Special Committee"), JLL has definitively
informed Lonza, the Lonza Supervisory Board of Directors and the Patheon
Special Committee that JLL will not enter into negotiations regarding the
Lonza Proposal and that its Patheon shares are not for sale.  JLL is not in
discussions with Lonza or any other party regarding the Lonza Proposal and any
statements by Lonza to the contrary are materially false and misleading. 
Patheon shareholders should be aware that the Lonza Proposal cannot be
consummated without JLL's support.

    Given that the Lonza Proposal cannot be completed, JLL views the Lonza
Proposal as a hostile attempt to adversely impact the competitive position of
Patheon through an inappropriate review of Patheon's confidential information.
The Lonza Proposal will only distract Patheon management from driving growth
in the business and cause Patheon management to devote time and resources in
pursuit of a transaction that cannot be consummated.  As JLL has previously
indicated to Lonza, the Lonza Supervisory Board of Directors and the Patheon
Special Committee, JLL will pursue all means necessary to protect its
investment in Patheon.

    JLL further cautions shareholders that the attempts of the Patheon
Special Committee to facilitate the Lonza Proposal are wholly without JLL's
support.  The Special Committee does not speak for JLL and cannot cause JLL to
sell its shares or approve a transaction with Lonza.  The Lonza Proposal is
conditioned on, among other things, acceptance of the Lonza Proposal by the
holders of at least 67% of the outstanding Patheon Restricted Voting Shares. 
JLL is the single largest shareholder of Patheon and holds Restricted Voting
Shares representing approximately 57% of the shares outstanding.  In addition
to its controlling ownership position, under the terms of the Investor
Agreement between Patheon and JLL, Patheon is prohibited from taking certain
significant corporate actions without JLL's prior consent.  In particular,
Patheon may not engage in "any merger, consolidation, sale of all or
substantially all of the assets of the Company or any similar business
combination transaction" and may not engage in "any issuance of additional
Restricted Voting Shares or other equity securities of the Company, or
securities convertible for or exchangeable into, such securities" without
JLL's prior approval.

    About JLL Partners

    JLL Partners, Inc. is a New York-based leading private equity investment
firm with approximately $4.0 billion of capital under management.  JLL's
investment philosophy is to partner with outstanding management teams and
invest with them in companies that they can continue to grow into market
leaders.  JLL has invested in a variety of industries, with special focus on
financial services, building products, and healthcare services and medical
products.  More information on JLL can be found on the website

    Forward-Looking Statements

    Certain statements made in this press release are forward-looking
statements that involve risks and uncertainties.  Often, but not always,
forward-looking statements can be identified by the use of words such as
"plans", "expects", "expected", "scheduled", "estimates", "intends",
"anticipates", or "believes", or variations of such words and phrases, or
state that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved.  These forward-looking statements
reflect JLL's best judgment based on current information, factors and
assumptions, and although it bases these statements on circumstances that it
believes to be reasonable when made, there can be no assurance that future
events will not affect the accuracy of such forward-looking information.  As
such, the forward-looking statements are not guarantees of future performance
or actions, and actual performance and actions may vary materially from the
actions and expectations discussed in this documentation. JLL disclaims any
intention or obligation to update or revise any forward looking information
whether as a result of new information, future events or otherwise, except as
required by applicable law.


For further information:

For further information: Brian Wade, +1-212-210-9317 Web Site:

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