Thermo Fisher Scientific acquires Qiagen

QIAGEN and Thermo Fisher Scientific (TFS) have recently proclaimed that QIAGEN’s managing committee and both company’s board of directors have agreed on TFS’s plan to obtain QIAGEN for thirty-nine euros per share in cash, valuing the group at eleven and a half billion dollars including one-point-four billion in debt. The offer represents a premium of roughly twenty-three per cent to QIAGEN’s closing share price on Monday. A tender offer will be initiated by Thermo Fisher to obtain all QIAGEN’s ordinary shares.
President, CEO and Chairman of TFS, Marc N. Casper, stated: “We are excited to bring together our complementary offerings to advance our customer’s 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. We look forward to welcoming QIAGEN’s employees to Thermo Fisher and are excited about the new opportunities we’ll have to advance precision medicine through new molecular diagnostics and improved life sciences workflows.”
QIAGEN’s Interim Chief Executive Officer and Senior Vice President, head of the molecular diagnostics business area, Thierry Bernard, stated: “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.”