AI Image
EQT to buy molecular testing firm Qiagen for $10.8 billion
Reuters • • business
Key Points:
- Buyout firm EQT has offered €46.50 ($52.22) per share for Qiagen, valuing the company at approximately $12.1 billion including $1.1 billion in net debt, with participation from the Abu Dhabi Investment Authority and Canada Pension Plan Investment Board.
- The offer represents an 8.6% premium to Qiagen’s last closing price, and the company’s US-listed shares rose 0.7% in extended trading following the announcement.
- Qiagen’s board has approved the deal, with chairman Stephen Rusckowski stating that going private is the best path forward for the company and its stakeholders; the transaction is expected to close by mid-2027.
- Qiagen became a takeover target after the departure of its previous CEO in 2019, and its stock recovered from six-year lows due to increased demand for molecular testing technologies, especially COVID-19 testing products.
- The company has suspended its full-year 2026 outlook pending the deal and reported preliminary third-quarter net sales of $548 million and adjusted diluted earnings per share of $0.65.
