The COVID-19 pandemic will have a significant impact on QIAGEN in 2020. Exatrordinary demand has emerged for molecular technologies involved in the testing for the new pathogen. However, the overall impact is not predictable at this point, as the spike in demand comes at the same time as demand for other products has waned due to the quarantines and other actions in many countries around the world that have disrupted the broader economy and routine healthcare.
The world's economic perspectives for 2020 are impossible to predict at this time given the COVID-19 pandemic.
Molecular testing solutions are seen as an essential component of the broad medical response to the COVID-19 pandemic. QIAGEN is committed to dramatically ramping up production capacity of its solutions that can be used for SARS-CoV-2 testing and support the overall response to this public health emergency.
On March 3, 2020, QIAGEN and Thermo Fisher Scientific Inc. (NYSE: TMO) announced that their boards of directors, as well as the managing board of QIAGEN N.V., unanimously approved Thermo Fisher’s proposal to acquire QIAGEN for €39 per share in cash. The offer price represents a premium of approximately 23% to the closing price of QIAGEN’s common stock on the Frankfurt Prime Standard on March 2, 2020, 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 transaction values QIAGEN at approximately $11.5 billion at current exchange rates, which includes the assumption of approximately $1.4 billion of net debt. The transaction, which is expected to be completed in the first half of 2021, is subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals, the adoption of certain resolutions relating to the transaction at an Extraordinary General Meeting of QIAGEN’s shareholders, and completion of the tender offer. Thermo Fisher has obtained committed bridge financing. Permanent funding is expected to come from cash on hand and the issuance of new debt. The transaction is not subject to any financing condition.
In March 2020, the Supervisory Board and the Managing Board resolved in a Joint Meeting to propose Thierry Bernard, who has been with QIAGEN since 2015, for election as Chief Executive Officer and a Managing Director at the next Annual General Meeting, which is set to take place in June 2020, along with the re-election of Roland Sackers as Chief Financial Officer and a Managing Director. The Joint Meeting further resolved to propose the current members of the Supervisory Board to all stand for re-election: Håkan Björklund, Stéphane Bancel, Metin Colpan, Elaine Mardis, Lawrence Rosen and Elizabeth Tallett.