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Thermo Fisher To Buy Qiagen In $11.5 Bln Deal

U.S. laboratory equipment maker Thermo Fisher Scientific Inc. (TMO) agreed to buy Qiagen (QGEN) for 39 euros per share in cash, valuing the Dutch molecular-testing firm at about $11.5 billion at current exchange rates, including the assumption of $1.4 billion of net debt.

The offer price represents a premium of about 23% to the closing price of Qiagen's common stock on the Frankfurt Prime Standard on March 2.

Thermo Fisher will commence a tender offer to acquire all of the ordinary shares of Qiagen.

The public tender offer will be subject to regulatory approvals, achieving a minimum acceptance threshold of 75% of the total issued and outstanding ordinary share capital of Qiagen and other customary closing conditions.

Qiagen said that its Managing Board and Supervisory Boards recommend the public tender offer for acceptance to the company's shareholders.

Thermo Fisher expects that the transaction will be immediately accretive to its adjusted earnings per share after close. It is expected to complete the transaction in the first half of 2021.

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