Qiagen acquired by EQT Partners

EQT Private Equity agreed on 21 October 2026 to acquire Qiagen, the Venlo-based life sciences and molecular diagnostics company, through a recommended voluntary all-cash public takeover offer, at an enterprise value of $10.8bn. The bid was made by Crown NL Bidco, a holding company controlled by the EQT XI fund with the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board participating alongside it. Shareholders were offered €46.50 in cash for each share, a premium of 40.3% to the closing price of €33.15 on 8 July 2026, the last trading day before press reports of takeover interest from private equity firms, and of 46.9% to the volume-weighted average price over the preceding three months. Qiagen’s supervisory and managing boards unanimously recommended the offer, after a review of strategic options that included discussions with both strategic and financial parties. The offer was conditional on acceptance by holders of at least 50% of the share capital plus one share, and on customary regulatory clearances, with completion expected in mid-2027. Should the approvals take more than ten months, Qiagen could pay an interim dividend of up to $0.47 per share, which would not be deducted from the offer price. The bidder also set out measures to be implemented after closing to acquire the whole of the business, under which shareholders who had not tendered would receive the same price in cash. Until completion, Qiagen was to continue operating as an independent company under its existing management. The offer document was to be published once cleared by BaFin, opening the acceptance period, with a parallel tender offer filed in the United States. EQT invested through EQT XI, a fund targeting €23 billion, which the transaction took to between 10% and 15% of its target size.