- Bio-Rad Laboratories Inc ORGANIC is reportedly in talks of a merger Qiagen NV QGENbut agreement is unlikely for a few weeks or more, or may not happen at all.
- A deal between Qiagen and Bio-Rad would be the latest connection in the medical diagnostics market. The sector has grown as the pandemic has helped increase demand for testing.
- According to the Wall Street Journal reporta deal between the two companies could be worth more than $10 billion, making it one of the largest in the health testing space thereafter Illumina Inc ILM $8 billion acquisition of cancer testing company Grail.
- Qiagen should be bought Thermo Fisher Scientific Inc TMO for about $10 billion in 2020, but did not receive shareholder approval. Activist investor Davidson Kempner Capital Management led the charge against the transaction, arguing that it undervalued Qiagen.
- Nearly $6 trillion in transactions were made worldwide last year, nearly half of them in the United States
- In addition to higher borrowing costs, uncertainty about the direction of the economy and markets and fears of a tougher antitrust regime have all contributed to the recent downturn.
- Healthcare, viewed as more recession-resistant than other sectors, has remained relatively active as companies look for combinations.
- Price promotion: BIO shares closed at $392.86 on Monday. QGEN shares are down 1.23% to $43.32 during the premarket session last check Tuesday.
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