Thermo Fisher ditches bid to acquire Qiagen as offer falls short

[MASSACHUSETTS] Thermo Fisher Scientific ended its agreement to purchase Qiagen after its tender offer for the Dutch health-care company fell short.

Only about 47 per cent of Qiagen shares were tendered, Thermo Fisher said in a statement Thursday, meaning the minimum threshold for acceptance of the proposed deal hadn't been met. Qiagen will pay Thermo Fisher a reimbursement of US$95 million, according to the statement.

Some shareholders had been seeking a higher price for Qiagen than the 43 euros (S$69.7) per share Thermo Fisher had offered. Davidson Kempner, a top investor in Qiagen, had said that a price between 48 euros and 52 euros a share was more appropriate and had urged others to reject Thermo Fisher's offer, which had been increased from an initial 39 euros.

BLOOMBERG