Barclays Trims Qiagen Stance as EQT's €46.50 Cash Bid Awaits Shareholder Verdict
Published on 10/30/2026 at 04:20 | Editorial boerse-global.de
Qiagen has agreed to a recommended all-cash offer of €46.50 per share from Crown NL Bidco B.V., an entity indirectly controlled by EQT XI, with ADIA and CPP Investments joining as co-investors. The bid, struck roughly a week before the provisional figures landed, carries a minimum acceptance threshold of 50% of outstanding share capital plus one share, alongside the customary regulatory clearances. Management and supervisory boards back the deal unanimously, and completion is pencilled in for mid-2027.
The price has not convinced everyone. Reuters Breakingviews argued last Thursday that the proposed consideration offers shareholders only a marginal premium over the rejected 2020 approach from Thermo Fisher Scientific, and flagged the scale of the investment challenge EQT would inherit at Qiagen. Barclays, meanwhile, cut its target to $53 from $55 and moved the stock to "Equal-Weight" from "Overweight," changes media reports tie to the takeover agreement.
Provisional Quarter Lands Without a Call
On the numbers, Qiagen reported preliminary third-quarter 2026 net sales of $548 million and adjusted diluted earnings per share of $0.65, both on a provisional basis. The company has suspended its full-year 2026 guidance while the EQT transaction runs its course, and it will not host a conference call for the quarter. Full third-quarter results are scheduled for release on November 4, 2026.
Should investors sell immediately? Or is it worth buying Qiagen?
Qiagen also filed a mandatory Form 6-K with the US Securities and Exchange Commission on October 23, covering both the takeover announcement and the preliminary quarterly figures.
A First for the DAX
Should the transaction close on the agreed terms, Qiagen would become the first DAX-listed company sold to a private equity investor, according to Reuters. The bidder structure — Crown NL Bidco B.V. beneath EQT XI, with Abu Dhabi Investment Authority and Canada Pension Plan Investment Board subsidiaries participating — was reported by Handelsblatt. Qiagen describes the public cash offer as voluntary and recommends shareholders tender into it.
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