The boards of directors at Thermo Fisher Scientific and Patheon have approved Thermo Fisher’s acquisition of Patheon for $35.00 per share in cash. The transaction represents a purchase price of approximately $7.2 billion, which includes the assumption of approximately $2.0 billion of net debt. Patheon provides contract development and manufacturing services, primarily at facilities in North America and Europe, with approximately 9,000 employees. The company generated approximately $1.9 billion in revenue in 2016. Patheon will become part of Thermo Fisher’s Laboratory Products and Services Segment. The transaction is expected to be completed by the end of 2017. Thermo plans to finance the purchase price with debt of approximately $5.2 billion and equity of approximately $2 billion.