U.S. firm Thermo Fisher to acquire biotec company Qiagen for 11.5 bln USD

Source: Xinhua| 2020-03-04 02:51:57|Editor: huaxia

BERLIN, March 3 (Xinhua) -- Thermo Fisher Scientific, a U.S.-based scientific equipment producer, has agreed to buy Qiagen, a Dutch disease test kit maker, the two companies announced on Tuesday.

The boards of directors, as well as the managing board of Qiagen had unanimously approved Thermo Fisher's proposal to acquire Qiagen for 39 euros per share, thus valuating the company at 11.5 billion U.S. dollars.

"We are excited to bring together our complementary offerings to advance our customers' important work, from discovery to diagnostics," said Marc Casper, chairman, president and chief executive officer (CEO) of Thermo Fisher Scientific.

Qiagen now employs approximately 5,100 people at 35 offices worldwide, with its operational headquarter in Hilden, Germany. The company generated revenues of 1.53 billion dollars in 2019.

According to Qiagen, the biotec's company sample preparation technologies are used to extract, isolate and purify DNA, RNA and proteins from a wide range of biological samples which are then amplified and enriched to make them readily accessible for analysis.

"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," said Thierry Bernard, interim chief executive officer of Qiagen.

With the acquisition, Thermo Fisher is expecting to realize annual synergies of 200 million dollars once the deal is closed.

According to the companies, the acquisition is still subject to applicable regulatory approvals and completion of the tender offer. Enditem