QIAGEN Pushes On After Thermo Fisher Walks Away

QIAGEN Pushes On After Thermo Fisher Walks Away

by | Aug 24, 2020 5:10 pm | Laboratories, MRI & Dialysis

In early March, Thermo Fisher Scientific Inc. (NYSE: TMO) announced a takeover QIAGEN N.V. (NYSE: QGEN) for $11.5 billion, or $43.64 per share in cash. The offer seemed high enough, as the target company only generated revenues of $1.53 billion in 2019, but the COVID-19 pandemic complicated the deal. QIAGEN saw a surge in product demand used in COVID-19 testing, as net sales grew 16% in Q2:20 over the same quarter in 2019, so its shareholders thought Thermo Fisher’s needed to up its offer. Thermo Fisher revised its offer to $49 per share on August 4, but it needed a minimum acceptance threshold of 66.67% from QIAGEN shareholders before the August 10 deadline. The new acquisition... Read More »
Thermo Fisher and QIAGEN Merge in Multi-Billion Deal

Thermo Fisher and QIAGEN Merge in Multi-Billion Deal

by | Mar 23, 2020 2:29 pm | Laboratories, MRI & Dialysis

After a year hiatus from the acquisition trail, Thermo Fisher Scientific Inc. (NYSE: TMO) is back with a big deal. Earlier in March, the medical diagnostics company announced it was acquiring QIAGEN N.V. (NYSE: QGEN) for $11.5 billion, or 23.8x EBITDA and 7.5x revenue. QIAGEN provides sample-to-insight solutions that transform biological materials into molecular insights worldwide. It has more than 500,000 customers around the world in molecular diagnostics and life sciences. The terms include $43.64 per share in cash, a 23% premium to QIAGEN’s March 2, 2020 closing price, plus assumption of approximately $1.4 billion of net debt. This acquisition expands Thermo Fisher’s... Read More »
CROs and CDMOs are Still Selling Fast

CROs and CDMOs are Still Selling Fast

by | Aug 12, 2019 10:13 am | CRO, Other Services, Private Equity

This past week Permira, a global investment firm based in the United Kingdom, spent $2.4 billion for Cambrex Corporation (NYSE: CBM). Cambrex is a premier contract development and manufacturing organization (CDMO) in the small molecule space and provides drug substance, drug product and analytical services across the entire drug lifecycle. The $2.4 billion purchase price includes the company’s net debt, for 4.2x revenue and 16.3x EBITDA,  represents a 47.1% premium to Cambrex’s closing price of $40.78 on August 6. The target reported a number of its own acquisitions recently, making the CDMO a more attractive buy. Cambrex acquired Halo Pharma in 2018 and Avista Pharma Solutions... Read More »