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Qiagen Says It Is Fielding Acquisition Offers

2019/12/2 9:21:38 Views£º508

Qiagen said recently that it has received several "conditional, non-binding indications of interest" from potential merger or acquisition partners.

As such, the company has begun a review of potential strategic alternatives, it said.

"The supervisory board and the management board of Qiagen, in accordance with their fiduciary duties and as part of the review of potential strategic alternatives, are starting discussions with interested parties," the company said in a statement. "These discussions aim to explore potential strategic alternatives that could provide greater value creation opportunities than the already strong standalone growth prospects for the company, taking into consideration the interests of Qiagen's stakeholders including its shareholders."

The company also noted that there is no guarantee or certainty that these discussions will lead to a recommended firm offer to all shareholders of the company.

The announcement comes in the wake of a media report on Wednesday that Thermo Fisher Scientific had approached Qiagen about a potential buyout. Qiagen officials had declined to comment at that time.

Qiagen's shares surged nearly 10 percent in heavy trading on the New York Stock Exchange to $35.45 on Wednesday following the Thermo Fisher buyout speculation, after having reached a three-year low of $25.42 on Oct. 8 in the wake of lowered full-year revenue guidance, news that it had discontinued its sequencer development, and a CEO transition.

Qiagen's shares on Friday closed up nearly 9 percent at $40.56.

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