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The deal is expected to close during the first half of 2021.
Thermo Fisher Scientific announced on March 3, 2020 that it is acquiring Qiagen, a Netherlands-based sample and assay technologies provider, for $11.5 billion.
Under the agreement, Thermo Fisher will acquire the company for €39 (US$43.69) per share in cash and the transaction is subject to the satisfaction of customary closing conditions, a Thermo Fisher press release said. The deal is expected to close during the first half of 2021.
This acquisition will give Thermo Fisher the opportunity to expand its portfolio with Qiagen’s molecular diagnostics capabilities and infectious disease testing, while broadening its commercial and geographical reach through Qiagen’s product portfolio, according to the press release.
"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 CEO of Thermo Fisher Scientific, in the press release. "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."
"Our vision at Qiagen has always been to make improvements in life possible with our differentiated Sample to Insight molecular testing solutions," said Thierry Bernard, interim CEO of Qiagen and senior vice president, head of the molecular diagnostics business area, in the press release. "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: Thermo Fisher Scientific