Lonza Group has offered about a $460 million white knight bid to buy Canadian pharmaceutical industry supplier, Patheon, The Wall Street Journal reports. The Swiss chemical maker has offered $3.55 per share.

JLL Patheon Holding had earlier tendered a hostile bid worth $259 million and has since built up a majority stake in the Canadian firm. JLL, which has a 57% stake in Patheon, had offered to pay $2 per restricted voting share.

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