American Buyer Increases Offer for Biotechnologist Qiagen

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The American Thermo Fisher has increased its offer for the German-Dutch biotechnologist Qiagen. This step follows complaints from shareholders, who found the initial amount to be below par.

 

In the period after Thermo’s first offer, which was made in March, the corona pandemic diagnostic maker would have become much more valuable.

Thermo Fisher, the manufacturer of medical equipment, now offers 43 euros per share of Qiagen. In the first offer, there was still 39 euros per share, with which a price tag of 8 billion euros was attached to Qiagen.

The adjustment appears to be in response to critical open letters from asset manager Davidson Kempner, who holds a 3.1 percent stake in Qiagen on behalf of several investors.

The firm complained about the amount of the offer, pointing out that in the meantime Qiagen had significantly increased its profit expectations.

Qiagen and Thermo Fisher have made several adjustments to the acquisition proposal.

Instead of three quarters, approval by just under 67 percent of the shareholders is now required. Qiagen also promises to pay $ 95 million to Thermo Fisher if that threshold is not met and the deal is cancelled.

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