Mintz Advises QIAGEN in its $11.5 Billion Sale to Thermo Fisher
Firm Plays Key Role in the Largest Health Care Acquisition to Date in 2020
Mintz served as U.S. legal counsel to QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA), a provider of life science and molecular diagnostic solutions, in its $11.5 billion sale to Thermo Fisher Scientific Inc. (NYSE: TMO), a manufacturer of scientific instrumentation, equipment, software, and services. The transaction, which was unanimously approved by the boards of directors for both companies, was announced on March 3 and is subject to customary closing conditions.
Headquartered in Hilden, Germany, QIAGEN employs approximately 5,100 people at 35 locations in more than 25 countries, and generated revenue of $1.53 billion in 2019. Its sample preparation technologies are used to extract, isolate and purify DNA, RNA, and proteins from a wide range of biological samples. The company’s assay technologies are then used to amplify and enrich these biomolecules to make them readily accessible for analysis. In addition, QIAGEN’s instruments can be used to automate these workflows, while its bioinformatics systems provide customers with relevant, actionable insights.
Under the terms of the transaction, Thermo Fisher will pay €39 per share for QIAGEN, which represents a premium of approximately 23% to the company’s closing price on March 2, the last trading day prior to the announcement of the transaction. Thermo Fisher will commence a tender offer to acquire all of the ordinary shares of QIAGEN.
The extensive Mintz team that advised QIAGEN was led by Members Jonathan Kravetz, Michael Fantozzi and Matthew Gardella, and included attorneys John Condon, Ran Zioni, Michael Ginzburg, Allyson Wilkinson, Hana Sahdev, and Amanda Mei (on mergers and acquisitions, corporate and securities matters), Robert Kidwell, Joseph Miller, Farrah Short, and Shawn Skolky (on antitrust matters), Anne Bruno and Jessica Catlow (on equity compensation matters), Joseph Price and Matthew Gautier (on financing/debt matters), Avi Reshtick (on tax matters), and Nancy Adams (on insurance matters).
Mintz is one of the leading law firms to the life sciences industry. The firm’s attorneys advise hundreds of businesses and other organizations across the sector—from start-ups and emerging growth companies to large public companies, as well as venture capital firms, investment banks, and research and academic institutions—on pivotal deals, mission-critical disputes, intellectual property, and regulatory matters.
Learn more about Mintz’s Life Sciences Practice here.