EQT, Advent, KKR Circle Qiagen in Early Takeover Bid
QGEN sits 30% above its 52-week low of $32.53.
Summary
Bloomberg reports that private equity firms EQT, Advent, and KKR have expressed early takeover interest in Qiagen. The news follows a challenging Q1 where net income fell 25% and cash from operations dropped 28%, potentially making the company a target. With a market cap near $8.7 billion, any deal would be substantial. No formal offer has been made, but the involvement of multiple suitors suggests competitive tension. Qiagen has been a recurring M&A candidate; a previous takeover attempt by Thermo Fisher collapsed in 2020.
At the time of this announcement, QGEN was trading at $42.43 on NYSE in the Life Sciences sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $32.53 to $57.82. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.