Germany: Molecular Diagnostics Thermo Fisher Scientific to Takeover Qiagen
The acquisition of Qiagen — at 43 dollars per share — will expand Thermo Fisher Scientific’s specialty diagnostics portfolio and also complement its offering with innovative sample preparation, assay and bioinformatics technologies.
Venlo/The Netherlands – Thermo Fisher Scientific, one of the world leaders in serving science, and Qiagen, a leading global provider of molecular diagnostics and sample preparation technologies, have announced that their boards of directors and the managing board of Qiagen, have approved Thermo Fisher’s proposal to acquire Qiagen. The deal will be carried out for 43 dollars per share in cash. The offer price represents a premium of approximately 23 % to the closing price of Qiagen’s common stock on the Frankfurt Prime Standard on March 2, 2020, the last trading day prior to the announcement of the transaction. Thermo Fisher will commence a tender offer to acquire all of the ordinary shares of Qiagen.
The transaction values Qiagen at approximately 11.5 billion dollars at current exchange rates, which includes the assumption of approximately 1.4 billion dollars of net debt.
“We are excited to bring together our complementary offerings to advance our customers’ important work, from discovery to diagnostics,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. “This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs. For shareholders, we expect the transaction to be immediately accretive and to generate significant cost and revenue synergies.”
Qiagen is a leading provider of life science and molecular diagnostic solutions and employs approximately 5,100 people at 35 locations in more than 25 countries. The company generated a revenue of 1.53 billion dollars in 2019. Its sample preparation technologies are used to extract, isolate and purify DNA, RNA and proteins from a wide range of biological samples. The company’s assay technologies are then used to amplify and enrich these biomolecules to make them readily accessible for analysis. In addition, Qiagen’s instruments can be used to automate these workflows, while its bioinformatics systems provide customers with relevant, actionable insights.