Deals
Thermo Fisher’s Raised Qiagen Bid Fails to Win Key Investor
- Qiagen board backs new takeover offer of 43 euros a share
- Davidson Kempner says new offer still short of fair value
Qiagen sells products for food and forensic testing, but most importantly, it has ramped up production this year to supply tests and chemicals for the coronavirus.
Photographer: Jasper Juinen/Bloomberg
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U.S. laboratory equipment maker Thermo Fisher Scientific Inc. raised its takeover offer for Dutch test-maker Qiagen NV but not enough to satisfy a top shareholder that’s looking to rally investors to demand a higher price.
Investors would now get 43 euros ($49) in cash, up from 39 euros under the prior offer. That’s a premium of about 35% to Qiagen’s closing price in early March, before Thermo Fisher first disclosed its plans, the companies said in a statement Thursday. Qiagen’s board backed the new price.