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Thermo Fisher to acquire Qiagen in $11 billion transaction

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Thermo Fisher Scientific’s (MA, USA) proposal to acquire Qiagen (Hilden, Germany) has been unanimously approved by Thermo Fisher’s board of directors and the managing board of Qiagen, in a transaction currently valued at approximately $11.5 billion.

Thermo Fisher Scientific are to acquire Qiagen, a global provider of molecular diagnostics and sample preparation technologies, for $39 per share in cash. The $39 per share represents a 23% premium on the closing price of Qiagen’s common stock on the Prime Standard market segment of the Frankfurt Stock Exchange.

Germany-based Qiagen is a provider of sample and assay technologies for diagnostics, applied testing and pharmaceutical research, operating in more than 35 offices in over 25 countries. After Qiagen’s sample preparation technologies have been used to isolate and purify extracts from biological samples, the assay technologies can be used to amplify biomolecules making them accessible for analysis.

Marc Casper, chairman, president and CEO (Thermo Fisher Scientific) explained: “We are excited to bring together our complementary offerings to advance our customers’ important work, from discovery to diagnostics. 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.”

The acquisition will see Thermo Fisher expand its specialty diagnostics portfolio with additional molecular diagnostic capabilities, including infectious disease testing. The addition of Qiagen’s sample preparation, assay and bioinformatics technologies to Thermo Fisher’s genetic analysis and biosciences capabilities offers life science customers an extended and complementary portfolio.

Thermo Fisher Scientific hope that the acquisition will expand customer access, further its commercial and geographic reach and facilitate greater penetration into high-growth and emerging markets.

Thierry Bernard, interim CEO and senior vice president, head of molecular diagnostics business area (Qiagen) added: “Our vision at Qiagen has always been to make improvements in life possible with our differentiated sample to insight molecular testing solutions. This strategic step with Thermo Fisher will enable us to enter a promising new era and will give our employees the opportunity to have an even greater impact. The combination is designed to deliver significant cash value to our shareholders, while enabling us to accelerate the expansion of our solutions to provide customers worldwide with breakthroughs that advance our knowledge about the science of life and improve health outcomes.”


Source: http://thermofisher.mediaroom.com/2020-03-03-Thermo-Fisher-Scientific-to-Acquire-QIAGEN-N-V

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