By Adria Calatayud

Thermo Fisher Scientific Inc. said Tuesday that it has agreed to acquire Frankfurt-listed provider of molecular diagnostics Qiagen NV in a deal that values the target at around $10.1 billion.

Thermo Fisher said its proposal values each Qiagen share at 39 euros ($43.30) in cash, representing a premium of around 23% to Monday's closing price. Including debt of $1.4 billion, the deal is worth $11.5 billion, Thermo Fisher said.

Waltham, Massachusetts-based Thermo Fisher, a provider of analytical instruments and equipment for research, analysis, discovery, and diagnostics, said the acquisition of Qiagen, which is based in Venlo, the Netherlands, is expected to be immediately accretive to adjusted earnings per share after close. The deal will expand Thermo Fisher's specialty diagnostics portfolio and complement its life-sciences offering, the company said.

In 2019, Qiagen generated revenue of $1.53 billion, Thermo Fisher said.

The deal is expected to be completed in the first half of 2021, subject to regulatory approvals and other customary closing conditions, the company said.

"This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging health-care needs," Thermo Fisher Chairman, President and Chief Executive Marc N. Casper said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

March 03, 2020 04:29 ET (09:29 GMT)

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