Qiagen shareholders vote down Thermo Fisher takeover attempt

Shareholders of Dutch molecular diagnostics company Qiagen (NYSE: QGEN) yesterday overwhelmingly rejected the sweetened 10.7 billion-euro ($12.67 billion) takeover bid from Thermo Fisher Scientific (NYSE: TMO).

Rumors of Thermo Fisher Scientific’s interest in Qiagen began last year, but Qiagen terminated talks of the then proposed merger in late December. The US firm came back with another offer in March this year which the Dutch firm was considering, and which has now been rejected by shareholders.

Based on information provided by the settlement agents for the offer, 107,546,187 Qiagen shares, representing 47.02% of the issued and outstanding ordinary shares of Qiagen, were validly tendered into the offer by the end of the acceptance period. Accordingly, the minimum acceptance threshold condition of 66.6% has not been satisfied, and the offer has lapsed in accordance with its terms.