Thermo Fisher Scientific is Buying Qiagen
12th March 2020
US laboratory equipment manufacturer Thermo Fisher Scientific announced a deal to acquire Germany-based Qiagen, a global provider of molecular diagnostics and sample preparation technologies. The holding to which the company belongs is based in Venlo, the Netherlands.
Through the acquisition expected to be completed in the first half of 2021 following all approvals, Thermo Fisher, which is based at Waltham, Massachusetts, said it is expanding its specialty diagnostics portfolio with attractive molecular diagnostics capabilities, including infectious disease testing, thereby complementing its capabilities with innovative sample preparation, assay and bioinformatics technologies.
At €39 per share in cash, the offer price represents a premium of roughly 23% to the closing price of Qiagen’s common stock on the Frankfurt Prime Standard exchange on Mar. 2, 2020. The deal values the Hilden-headquartered company at $11.5 billion at current US dollar-euro exchange rates and includes the assumption of approximately $1.4 billion of net debt.
Thermo Fisher will commence a tender offer to acquire all of the ordinary shares of Qiagen and expects the transaction to be immediately accretive to adjusted earnings per share after closing.
With 5,100 employees at 35 locations in more than 25 countries, Qiagen had sales of $1.53 billion in 2019, The group’s sample preparation technologies are used to extract, isolate and purify DNA, RNA and proteins from a wide range of biological samples, after which its assay technologies amplify and enrich the biomolecules to make them readily accessible for analysis.
The company’s instruments can also automate the workflows.
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