Saturday, 19 Sep 2020

Davidson Kempner says again it will not be tendering Qiagen shares

BOSTON (Reuters) – Hedge fund Davidson Kempner said again on Thursday it will not be tendering its shares in Qiagen (QIA.DE), days after Thermo Fisher Scientific (TMO.N) said its offer to buy the German genetic test maker expires soon.

“Davidson Kempner Will Not Be Tendering Into The Current Offer,” the hedge fund said in a statement. It reiterated its position that it considers the current offer “wholly inadequate.”

Thermo Fisher said this week its offer to buy all of Qiagen’s ordinary shares for an increased price of 43.00 euros per share will expire on Monday.

The hedge fund, which owns 8% of Qiagen, has said the target’s fair value on a standalone basis was between 48 and 52 euros per share.

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