A Swedish buyout house, EQT, has agreed to take the Dutch genetic-testing firm Qiagen private in a transaction valued at about $12.1 billion including debt, ending a long stretch in which the company's future had been the subject of rumor. The move belongs to a larger pattern in which patient capital seeks out businesses whose tools once surged in value during a crisis and have since fallen back, and it asks whether a price set after years of drift truly reflects what was built. Qiagen's board has endorsed the offer as the sensible path for everyone with a stake in the company, while some shar
EQT to Take Dutch Diagnostics Firm Qiagen Private in $10.8 Billion Deal
A Swedish buyout house, EQT, has agreed to take the Dutch genetic-testing firm Qiagen private in a transaction valued at about $12.1 billion including debt, ending a long stretch in which the company's future had been the subject of rumor. The move belongs to a larger pattern in which patient capital seeks out businesses whose tools once surged in value during a crisis and have since fallen back, and it asks whether a price set after years of drift truly reflects what was built. Qiagen's board has endorsed the offer as the sensible path for everyone with a stake in the company, while some shareholders remain unconvinced. The sale will not be final until regulators have weighed in, a process expected to stretch into mid-2027.
On Wednesday, Sweden's EQT and the Dutch molecular testing company Qiagen announced an agreement that brings an end to years of speculation about who might buy the firm. EQT will acquire Qiagen for roughly €9.6 billion, or about $10.78 billion, at €46.50 a share. That price is an 8.6% premium to the last close, and affiliates of the Abu Dhabi Investment Authority and Canada Pension Plan Investment Board are taking part alongside EQT. With about $1.1 billion in net debt included, the deal values Qiagen at around $12.1 billion.
Qiagen's board has approved the offer. Its chairman, Stephen Rusckowski, said going private was the best path for the company, its shareholders and other stakeholders. Markets responded calmly, with US-listed shares rising 0.7% after hours. The stock has gained about 10% this year, recovering from six-year lows reached in May, when reports of private equity interest began to circulate.
The company's story explains why some are unhappy with the price. After its chief executive announced his departure in 2019, Qiagen became a takeover target, and the pandemic then lifted both its results and its shares on the strength of coronavirus testing demand. Preliminary third-quarter sales reached $548 million, with adjusted earnings of $0.65 per diluted share, and the company has suspended its 2026 outlook while the deal is pending.
What comes next is a test of patience. Shareholders who believe the offer is too low may push back, and regulators will shape the timeline toward an expected close in mid-2027.
On Wednesday, Sweden's EQT and the Dutch molecular testing company Qiagen announced a deal that ends years of speculation about who might buy the firm. EQT will acquire Qiagen for about €9.6 billion, or $10.78 billion.
The offer is €46.50 a share, which is about $52.22. That is an 8.6% premium to Qiagen's last closing price. EQT is not acting alone: affiliates of the Abu Dhabi Investment Authority and Canada Pension Plan Investment Board are also taking part in the offer.
Including roughly $1.1 billion in net debt, the transaction values Qiagen at about $12.1 billion. EQT has secured both equity and debt financing for the purchase. The deal is expected to close in mid-2027, and the editorial notes on the story say it is subject to regulatory approvals.
Qiagen's board has approved the offer. Stephen Rusckowski, chairman of the supervisory board, said going private was the best path forward for the company, its shareholders and other stakeholders. Investors reacted mildly: Qiagen's US-listed shares rose 0.7% in extended trading after the announcement. The stock is up about 10% so far this year, having recovered from more than six-year lows reached in May, helped by reports that private equity firms including EQT were interested.
Qiagen supplies technologies and services for analyzing genetic material in research and clinical laboratories. It became a takeover target after its previous chief executive, Peer Schatz, announced in October 2019 that he was leaving. The COVID-19 pandemic then lifted both its performance and its share price, thanks to surging demand for its coronavirus testing products. That history is part of why some investors consider the new offer too low.
The company also released financial figures alongside the deal. Preliminary third-quarter net sales came to $548 million, with adjusted diluted earnings per share of $0.65. Qiagen said it is suspending its full-year 2026 outlook while the transaction is pending.
Reuters describes the deal as a sign of growing private-equity appetite in the sector, where demand for molecular testing technologies has driven dealmaking. What to watch now is whether shareholders who think the price is too low push back, and how the regulatory process unfolds ahead of the expected mid-2027 close.
Quer a matéria completa?
Leia o original em Reuters ↗
Economy & Finance