Dutch food supplement maker DSM (DSMN.AS) will tender its stake in U.S. drug ingredient maker Patheon (PTHN.N) to Thermo Fisher Scientific (TMO.N), DSM said on Monday.
Thermo Fisher Scientific, the world's largest maker of scientific instruments, is set to buy Patheon in a $5.2 billion cash deal, or $35 per share, implying a premium of about 35 percent on Patheon's Friday close.
DSM holds approximately 48.7 million shares in Patheon, making it its second largest shareholder with a 33.6 percent stake. The Dutch company said it had entered into a tender and support agreement with Thermo Fisher.
Including a control premium, DSM's stake in Patheon is worth approximately 1.5 billion euros ($1.65 billion), or about 8.50 euros per share, analysts at Jefferies estimated.
Thermo Fisher's plan to buy Patheon pushed DSM shares to an all-time high of 67.92 euros on Monday. DSM shares were up 2.64 pct at 1214 GMT.
Patheon shares jumped by nearly 34 percent to $34.80 premarket in New York.
(Reporting by Wout Vergauwen; editing by David Clarke and Jason Neely)