Thermo Fisher Scientific Set to Acquire Qiagen for $11.5B

After months of rumors, Thermo Fisher Scientific is finally acquiring Qiagen for $11.5 billion. The deal calls for Waltham, MA-based Thermo Fisher Scientific to spend about $43.6 per share for Qiagen. The move also comes after Qiagen terminated talks for a merger on Christmas Eve. The offer price represents a premium of about 23% to the closing price of Venlo, Netherlands-based Qiagen’s common stock on Monday. The proposed acquisition is set to close in the first half of 2021. Thermo Fisher said the transaction is expected to be immediately accretive to its adjusted earnings per share after the close. It said it also expects to realize total synergies of $200 million by year three following the close, consisting of $150 million of cost synergies and $50 million of adjusted operating income benefit from revenue synergies. “Our goal is to accelerate the growth of Qiagen as we’ve done with many other acquisitions,” Marc N. Casper, chairman, president and CEO of Thermo Fisher Scientific said during a call with investors. “The company expands our specialty diagnostics portfolio by significantly enhancing our position in the attractive molecular diagnostics market including infectious disease testing and other important growth areas.” This is one of the largest deals Thermo Fisher Diagnostics has ever been involved with. The company’s largest acquisition occ...
Source: MDDI - Category: Medical Devices Authors: Tags: IVD Business Source Type: news