July 10, 2020 / 5:41 PM / 24 days ago

Qiagen shareholder Davidson Kempner says Thermo Fisher offer 'inadequate'

July 10 (Reuters) - Davidson Kempner Capital Management LP said on Friday it considered Thermo Fisher Scientific’s current offer to acquire German genetic test maker Qiagen NV to be “inadequate” and will not tender its shares into the offer.

The investment manager, which owns a 3% stake in Qiagen, said Thermo Fisher’s offer of 39 euros ($44.07) per share was not adequate as it failed to reflect Qiagen’s fundamental standalone value and offered no premium for shareholders.

Thermo Fisher agreed in early March to buy Qiagen for $11.5 billion to bolster its health diagnostic business. ($1 = 0.8850 euros) (Reporting by Manojna Maddipatla in Bengaluru; Editing by Krishna Chandra Eluri)

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