EQT agrees €9.6bn takeover of Qiagen
TOP STORY: EQT has agreed to acquire European molecular testing company Qiagen in a €9.6bn transaction, marking one of the largest European healthcare buyouts this year, according to a report by Bloomberg.
EQT has reached an agreement to acquire Qiagen, a leading European molecular testing company, in a €9.6 billion deal, according to Bloomberg. This transaction, involving a consortium that includes Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPP Investments), represents one of the most significant European healthcare acquisitions this year.
EQT's consortium will pay €46.50 per share in cash, offering a 40% premium over Qiagen's pre-agreement stock price. The deal follows a string of major acquisitions for EQT this year, including the £9.3 billion takeover of Intertek and the A$9.3 billion acquisition of Cleanaway. Qiagen, headquartered in the Netherlands and based in Germany, is known for its molecular testing technologies utilized by pharmaceutical and clinical laboratory teams.
Despite losing out on a $12 billion bid from Thermo Fisher Scientific and considering a potential combination with BioMérieux, Qiagen has attracted interest from various parties, including KKR, which submitted a competing offer. Qiagen shareholders, notably Switzerland-based PSquared Asset Management, one of the company's largest investors, have publicly backed the transaction. Following confirmation of the agreement, Qiagen's shares surged by up to 6.2% in Frankfurt trading.
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