Benzinga | Aug 13, 2020 07:38AM EDT

Thermo Fisher Scientific And QIAGEN Announce Lapse Of Offer And Termination Of Acquisition Agreement; QIAGEN To Pay Thermo Fisher $95M Reimbursement Payment In Accordance With The Terms Of The Acquisition Agreement

WALTHAM, Mass., Aug. 13, 2020 /PRNewswire/ --Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, today announced that its offer to acquire all of the ordinary shares of QIAGEN N.V. (NYSE:QGEN, Frankfurt Prime Standard: QIA))))) has lapsed.

Based on information provided by the settlement agents for the offer, Deutsche Bank Aktiengesellschaft and American Stock Transfer & Trust Company, 107,546,187QIAGEN shares, representing 47.02%of the issued and outstanding ordinary shares of QIAGEN, were validly tendered into the offer by the end of the acceptance period at 24:00 hours (Frankfurt am Main local time) / 18:00 hours (New York local time) on August 10, 2020. Accordingly, the minimum acceptance threshold condition to the offer has not been satisfied, and the offer has lapsed in accordance with its terms.

Thermo Fisher has terminated the acquisition agreement with QIAGEN, and QIAGEN will pay to Thermo Fisher an expense reimbursement payment of USD 95 million in cash in accordance with the terms of the acquisition agreement.

Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific, said, "Thermo Fisher is a disciplined acquirer with a strong track record of executing value-creating transactions. We remain extremely well-positioned to deliver on our proven growth strategy and continue to generate significant returns for our shareholders."