Hedge Fund Seeks Higher Price For Qiagen As COVID-19 Boosts Sales
Hedge fund Davidson Kempner advised Qiagen to ask for a higher acquisition price from Thermo Fisher Sciences as COVID-19 has increased demand for diagnostic products.
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The diagnostics company said the test is scheduled for US launch in Q4 2020.
Qiagen's shareholders said Thermo Fisher's final offer price for the diagnostics company was too low.
Thermo Fisher expects the deal to improve its portfolio of specialty diagnostics for clinical labs while its genetic analysis technologies, biosciences reagents and consumable products will complement Qiagens’ sample preparation and assay technologies.