Key Takeaways
- • EQT agreed to acquire molecular testing company Qiagen for about €9.6 billion ($10.78 billion), offering €46.50 ($52.22) per share, an 8.6% premium to Qiagen's last close, according to Reuters.
- • The deal values Qiagen at about $12.1 billion including roughly $1.1 billion in net debt, and is expected to close in mid-2027.
- • Abu Dhabi Investment Authority and Canada Pension Plan Investment Board affiliates are participating in the offer alongside EQT, which has secured equity and debt financing.
- • Qiagen's board has approved the offer, with supervisory board chairman Stephen Rusckowski calling going private the "best path forward" for the company and its stakeholders.
- • Qiagen suspended its full-year 2026 outlook pending the transaction and reported preliminary third-quarter net sales of $548 million and adjusted diluted EPS of $0.65.
Summary
Sweden's EQT will buy molecular testing company Qiagen for about €9.6 billion ($10.78 billion), the companies said on Wednesday, ending years of takeover speculation surrounding the Dutch firm. The offer of €46.50 per share represents an 8.6% premium to Qiagen's last close. Qiagen's US-listed shares rose 0.7% in extended trading following the announcement, and the stock is up about 10% so far this year as reports of private equity takeover interest, including from EQT, helped it recover from six-year lows hit in May.
The transaction values Qiagen at about $12.1 billion including approximately $1.1 billion in net debt. Affiliates of the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board are also participating in the offer. EQT has secured both equity and debt financing, and the deal is expected to close in mid-2027. Qiagen's board has approved the offer. Supervisory board chairman Stephen Rusckowski said going private was the "best path forward for Qiagen, its shareholders and other stakeholders."
Qiagen, which provides technologies and services for analyzing genetic material in research and clinical laboratories, became a takeover target after previous CEO Peer Schatz announced his departure in October 2019. Thermo Fisher Scientific agreed in 2020 to acquire Qiagen for about $11.5 billion but abandoned that takeover after failing to secure enough shareholder support. Demand for Qiagen's COVID-19 testing products boosted its performance and share price during the pandemic, leading some investors to view the EQT offer as too low.
Qiagen said it is suspending its full-year 2026 outlook pending the deal. It reported preliminary third-quarter net sales of $548 million and adjusted diluted earnings per share of $0.65. Reuters noted that the transaction reflects increasing private equity appetite in the molecular testing sector, where demand for the technologies has driven dealmaking.
The transaction values Qiagen at about $12.1 billion including approximately $1.1 billion in net debt. Affiliates of the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board are also participating in the offer. EQT has secured both equity and debt financing, and the deal is expected to close in mid-2027. Qiagen's board has approved the offer. Supervisory board chairman Stephen Rusckowski said going private was the "best path forward for Qiagen, its shareholders and other stakeholders."
Qiagen, which provides technologies and services for analyzing genetic material in research and clinical laboratories, became a takeover target after previous CEO Peer Schatz announced his departure in October 2019. Thermo Fisher Scientific agreed in 2020 to acquire Qiagen for about $11.5 billion but abandoned that takeover after failing to secure enough shareholder support. Demand for Qiagen's COVID-19 testing products boosted its performance and share price during the pandemic, leading some investors to view the EQT offer as too low.
Qiagen said it is suspending its full-year 2026 outlook pending the deal. It reported preliminary third-quarter net sales of $548 million and adjusted diluted earnings per share of $0.65. Reuters noted that the transaction reflects increasing private equity appetite in the molecular testing sector, where demand for the technologies has driven dealmaking.
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