Thermo Fisher To Acquire QIAGEN For $11.5 Billion
QIAGEN N.V, a leading global provider of molecular diagnostics and sample preparation technologies and Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science announced today that QIAGEN’s managing board, as well as the board of directors of both the companies, have agreed to Thermo Fisher’s proposal to acquire QIAGEN for €39 per share in cash.
Thermo Fisher has offered a price premium of around 23% to the QIAGEN’s closing price on March 2, 2020, at the Frankfurt Prime Standard. A tender offer to acquire all of the ordinary shares of QIAGEN will be announced by Thermo Fisher.
According to the current exchange rates, the transaction values QIAGEN at approximately $11.5 that includes an assumption of around $1.4 billion of net debt.
Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher Scientific said that they are excited to bring together their offerings to advance customers’ important work, from discovery to diagnostics. This is an opportunity to leverage the company’s industry-leading skills and R&D expertise to address emerging health needs.
QIAGEN employs approximately 5,100 people at 35 locations in more than 25 countries and is a leading provider
of life science and molecular diagnostic solutions. In 2019, the company generated a revenue of $1.53 billion. Its services are used to isolate, extract, and purify RNA, DNA, and proteins from a wide range of biological samples. Its assay technologies are used to amplify these biomolecules enough to carry out the analysis. QIAGEN also provides instruments to automate these workflows and its bioinformatics systems provide customers with relevant, actionable insights.Thermo Fisher’s acquisition of QIAGEN is expected to give the employees of QIAGEN to have an even greater impact. The combination is designed to deliver significant cash value to their shareholders while enabling them to accelerate the expansion of the solutions to provide customers worldwide with breakthroughs that advance the knowledge about the science of life and improve health outcomes, said Thierry Bernard, interim chief executive officer of QIAGEN
The transaction will expand the specialty diagnostics portfolio with attractive molecular diagnostics capabilities, including infectious disease testing. The complementary offering will enhance the unique value proposition for life sciences customers. The acquisition will also help to expand customer access.
