Thermo Fisher to acquire Qiagen for $11.5 billion

Having failed in its attempt last year to take over the Dutch molecular diagnostics company last year, Thermo Fisher Scientific (NYSE: TMO) today announced that it has reached agreement to acquire Qiagen (NYSE: QGEN) for 39 euros per share in cash, a 23% premium to the closing price on Monday.

The transaction values Qiagen at around $11.5 billion at current exchange rates, which includes the assumption of approximately $1.4 billion of net debt. Qiagen’s shares were 16.14% higher at $41.95 in pre-market trading today.

"We are excited to bring together our complementary offerings to advance our customers' important work, from discovery to diagnostics," said Marc Casper, chairman, president and chief executive of Thermo Fisher Scientific. "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. For shareholders, we expect the transaction to be immediately accretive and to generate significant cost and revenue synergies," he added.