Thermo Fisher Scientific said on Thursday it has terminated its acquisition agreement for German genetic testing company Qiagen as the minimum ...
REUTERS: Thermo Fisher has walked away from its takeover deal with Qiagen after the German genetic testing specialist's earnings were boosted by coronavirus diagnostics, leaving its shareholders reluctant to cash out.
"The magnitude and duration of the global coronavirus pandemic have proven the increasingly critical importance of molecular testing to society. Qiagen’s business prospects have improved significantly," said Chief Executive Thierry Bernard. Qiagen added that it now plans to buy the 80.1per cent it does not already own of NeuMoDx Molecular Inc, a supplier of testing gear for COVID-19 and other infections, for about US$234 million.Activist investor Davidson Kempner, owner of an 8per cent stake in Qiagen which campaigned against Thermo Fisher's bid, said management should now improve its interactions with shareholders, focus on high-growth businesses and be disciplined about its investments.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thermo Fisher terminates deal for genetic testing firm QiagenThermo Fisher Scientific said on Thursday it has terminated its acquisition agreement for German genetic testing company Qiagen as the minimum ...
Read more »
Thermo Fisher terminates deal for genetic testing firm QiagenThermo Fisher Scientific said on Thursday it has terminated its acquisition agreement for German genetic testing company Qiagen as the minimum ...
Read more »
Cannabis industry readies for M&A after COVID-19 boosts weed demandAfter nearly a year of next-to-no deal-making, cannabis companies are gearing up for mergers and acquisitions as realistic stock valuations and ...
Read more »
Rugby League: Hull FC say six players tested positive for COVID-19REUTERS: Five players from English rugby league side Hull FC tested positive for COVID-19 following their Super League match against Salford Red ...
Read more »
Drita's Champions League qualifier cancelled after COVID-19 positive testsREUTERS: KF Drita's Champions League 2020-21 preliminary round tie against Northern Irish club Linfield has been cancelled after a second player ...
Read more »
China's Jingzhou city says woman tests positive for COVID-19 again after recoveringBEIJING: Jingzhou city in China's central province of Hubei reported on Wednesday (Aug 12) a COVID-19 case where the person turned positive again ...
Read more »