Qiagen is currently developing kits to test for COVID-19 in response to the coronavirus outbreak, having provided test equipment during the previous Sars and swine flu outbreaks.
Thermo Fisher states that buying Qiagen will allow it to strengthen its portfolio, particularly for infectious diseases. Thermo Fisher plans to expand access to Qiagen’s products through its commercial network.
The deal includes Thermo Fisher paying €39 per share of Qiagen’s stock in cash, which is approximately 23% more than Qiagen’s common stock price on the Frankfurt Prime Stanard on the 2nd March, the last trading day before the announcement of the deal. This also includes the assumption of $1.4 billion of debt.
The deal is anticipated to close in the first half of 2021, pending conditions, regulatory approvals and completion of the tender offer.