- REUTERS/Gary Cameron
A big deal in biotech is going to line the pockets of some of Wall Street’s biggest firms.
In a statement Monday, Thermo Fisher said it would acquire all outstanding Patheon shares for $35 apiece in cash, 35% higher than where the stock closed Friday.
One of Patheon’s biggest backers, JLL Partners, a New York-based private equity firm, stands to make a killing from the deal. According to reporting by Bloomberg, affiliates of JLL could earn $2.2 billion, or nearly five times the original $462 million they invested in March 2014 prior to the company’s initial public offering.
Two of Wall Street’s fiercest rivals also stand to profit from the acquisition.
On the buy-side of the deal, Goldman Sachs advised Thermo Fisher and could rake in $30 million, according to data from Freeman & Co.
On the sell-side, Morgan Stanley served as Patheon’s adviser and could make $35 million.
The deal is expected to close by the end of 2017.