EQT’s Qiagen Deal Ends Years of Takeover Speculation – Merger Arbitrage Mondays

Qiagen N.V. (QGEN): $50.39

Market Cap: $10.38 B

Deal Value: $12.10 B

Sweden’s private equity firm EQT AB entered into a merger agreement on October 21, 2026, to acquire molecular testing company Qiagen in a $12.10 billion deal, ending years of takeover speculation surrounding the Dutch firm.

Qiagen shareholders will receive €46.50 ($52.29) in cash per share, a 4.58% premium over the stock’s last closing price. The deal currently has a spread of 3.77%, implying an annualized return of 5.53% if the acquisition closes as expected. The deal is expected to be completed by mid-2027, with EQT securing both equity and debt financing to fund the offer.

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