Thermo Fisher To Buy Qiagen For $11.5B

Thermo Fisher Scientific Inc. TMO announced it will acquire Qiagen QGEN for €39 ($43.34) per share in cash.

Qiagen is a provider of life science and molecular diagnostic company and generated 2019 revenue of $1.53 billion.

The transaction values Qiagen at approximately $11.5 billion at current exchange rates, which includes the assumption of approximately $1.4 billion of net debt. The offer price represents a premium of approximately 23% to the closing price of Qiagen's common stock.

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"This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs,” said Marc Casper, CEO of Thermo Fisher Scientifi. “For shareholders, we expect the transaction to be immediately accretive and to generate significant cost and revenue synergies."

Qiagen shares were trading higher by 15.7% at $41.80 in Tuesday's pre-market session.

Thermo Fisher shares were trading up 3.3% at $315.03 in Tuesday’s pre-market session. The stock has a 52-week high of $342.26 and a 52-week low of $246.67.