Thermo Fisher Exits Plan to Buy COVID Testing Group Qiagen

Thermo Fisher Scientific Inc.  (TMO) – Get Report said Thursday it will walk away from its planned acquisition of Germany-based coronavirus testing specialist Qiagen NV  (QGEN) – Get Report after failing to convince enough investors to support its improved $13 billion approach. 

Thermo Fisher said it was unable to convince enough shareholders of Qiagen to agree to the sweetened deal based on a 47% acceptance rate from the August 10 tender deadline. Thermo Fisher had improved its offer for the molecular testing supply group by around 10%, to €43.00 per share, earlier last month, and boosted the acceptance threshold to 75% of Qiagen’s shareholders.

Source Article