Story
Qiagen Shares Surge on Report of Takeover Interest from EQT, Advent, KKR
Summary
Diagnostics firm Qiagen is reportedly drawing early takeover interest from several private equity firms, with potential offers of at least $50 per share sending its stock soaring, according to a Bloomberg News report.
Shares of diagnostics company Qiagen NV surged after a report indicated it is drawing preliminary takeover interest from several prominent buyout firms, including EQT AB, Advent International, and KKR & Co.
Potential Offer Details
According to a Bloomberg News report on Thursday, which cited people familiar with the matter, some of the suitors are considering offers of at least $50 per Qiagen share. The sources stressed that these discussions are at an early stage and that no final decisions have been made. There is no certainty that the deliberations will lead to a formal offer.
The report also noted that Qiagen could attract interest from other private equity firms as well as strategic corporate buyers. Qiagen and KKR declined to comment on the report, while Advent and EQT were not immediately available for comment, the source material stated.
Market Reaction
AdThe news prompted a significant rally in Qiagen's stock. The company's shares listed in Frankfurt jumped by more than 10% following the report, putting them on track for their best single-day performance since January.
Prior to the rally, the Netherlands-based company had a market capitalization of €6.87 billion ($7.85 billion), according to LSEG data.
Company Background
This development follows a January Bloomberg report that Qiagen was exploring strategic alternatives, including a potential sale, amid renewed takeover interest. The company has also undergone a recent leadership transition, announcing last year that CEO Thierry Bernard would be stepping down from his role.