Here's Why Qiagen Jumped Higher Today
Shares of Qiagen (NYSE: QGEN) were up 14.7% at 1:45 p.m. EST on Tuesday because the company is being acquired by Thermo Fisher Scientific (NYSE: TMO) in an all-cash deal that values Qiagen at $11.5 billion.
The news comes as a bit of a surprise since Thermo Fisher and others had been rumored to be in talks with Qiagen in November (which was eventually confirmed by management). But a month later, Qiagen management decided that none of the deals were a better option for shareholders than remaining a stand-alone company.
Healthcare investors will have to wait for documents to be filed with the Securities and Exchange Commission to get the backstory on how the deal went down, but presumably Thermo Fisher sweetened its offer to get Qiagen to come to the table.
Source Fool.com
