EQT Private Equity to Acquire QIAGEN for $12.10 Billion

EQT Private Equity, through its EQT XI fund, entered into a merger agreement on October 21, 2026, to acquire QIAGEN N.V. (QGEN) in a deal valued at $12.10 billion.

Deal Structure:

Qiagen shareholders will receive €46.50 ($52.29) in cash for each Qiagen share, representing a 4.58% premium over the stock’s last close.

Company Profile:

Qiagen is a Netherlands-based life sciences and molecular diagnostics company that develops and sells sample preparation kits, diagnostic assays, PCR and next-generation sequencing solutions, instruments, and bioinformatics software. Its products are used by academic institutions, pharmaceutical and biotechnology companies, clinical laboratories, public health agencies, and forensic laboratories to extract, analyze, and interpret biological material.

EQT is a Sweden-based global investment firm that manages private equity, infrastructure, real estate, and secondaries funds, investing in companies and assets across various sectors, geographies, and stages of development. EQT holds €354 billion in total assets under management (AUM).

Deal Details and Timeline:

In January, Bloomberg reported that Qiagen was weighing strategic options, including a potential sale amid fresh takeover interest. The stock was trading at $47.57 when Qiagen held talks with several possible buyers, including some US strategics.

In 2020, Qiagen had tried to merge with Thermo Fisher Scientific (TMO), but that offer lapsed. Other companies like Bio-Rad Laboratories (BIO), Bio-Mérieux, Quidel Corp., have also made attempts at acquiring the company through the years.

Crown NL Bidco B.V., which will acquire Qiagen, is a holding company indirectly controlled by the EQT XI fund, with further indirect participations held by Luxinva S.A., a subsidiary of the Abu Dhabi Investment Authority (ADIA), and CPP Investment Board Europe, a subsidiary of the Canada Pension Plan Investment Board (CPP Investments), while EQT Private Equity is managed and controlled by affiliates of EQT AB.

The closure of this merger is currently expected in mid-2027.

If the transaction does not close within 10 months (by August 21, 2027) due to pending regulatory approvals, Qiagen may elect to pay shareholders an interim dividend of up to $0.47 per share. Any such dividend will be paid in addition to the offer price and will not be deducted from it.

EQT Private Equity has secured committed equity and debt financing to cover the offer price and related transaction costs. Morgan Stanley, Jefferies, Deutsche Bank, SMBC, Crédit Agricole, and UniCredit are acting as bookrunners and mandated lead arrangers for the debt financing.

Qiagen was advised on financial matters by Moelis & Co, Goldman Sachs Bank Europe, and Perella Weinberg Partners, and on legal matters by De Brauw Blackstone Westbroek, Linklaters, and Davis Polk & Wardwell. EQT Private Equity was advised financially by Morgan Stanley, Jefferies, and Deutsche Bank, and legally by Milbank, Stibbe, and Paul Weiss.

EQT Private Equity is paying 14.95 times EBITDA for Qiagen.

Deal Metrics:

For those interested in a more in-depth analysis of this merger and acquisition transaction, you may visit the Deal Metrics page at the link provided below:

Deal Metrics for the acquisition of QIAGEN N.V. (QGEN) by EQT Private Equity (EQT XI fund)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

Disclaimer: This article is for informational purposes only. Please conduct your own research and due diligence before engaging in any buying or selling of the securities mentioned. The completeness or accuracy of the content or data in this article is not guaranteed.

Editor’s Note: Baranjot Kaur contributed to this article