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Mergers & Acquisitions
Thermo Fisher’s purchase of Qiagen derailed by investors
by Craig Bettenhausen
August 14, 2020
| A version of this story appeared in
Volume 98, Issue 31
Thermo Fisher Scientific’s $12.4 billion acquisition of the diagnostics firm Qiagen is off. Qiagen is a leading maker of RNA-based COVID-19 tests. Hedge fund Davidson Kempner Capital, which owns 8% of Qiagen, led a campaign against the deal, calling Thermo’s offer “wholly inadequate” given the firm’s growth potential. Shareholders had delivered only 47% of Qiagen shares by the deadline. Qiagen will pay Thermo a $95 million breakup fee.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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