EQT agrees to acquire Qiagen for $12.1 billion

EQT Private Equity, an entity indirectly controlled by EQT XI fund and managed by EQT affiliates, agreed to acquire Qiagen for €46.50 per share in cash. The offer values the company at €10.8 billion, or about $12.1 billion, including roughly $1.1 billion of net debt, and would take Qiagen private.

Qiagen’s boards concluded after a strategic review that the buyout was the best path forward, citing greater flexibility for long-term investment and certain cash value for shareholders. Co-investors include Luxinva, a subsidiary of Abu Dhabi Investment Authority, and CPP Investment Board Europe. The Business Combination Agreement includes commitments on strategy, brands, R&D, employees, and financing.

The transaction is expected to close in mid-2027. It is subject to a minimum acceptance threshold of 50% plus one share, merger control and foreign investment clearances, and other conditions. EQT said it has committed equity and debt financing, with Morgan Stanley, Jefferies, Deutsche Bank, SMBC, Crédit Agricole, and UniCredit acting as bookrunners and mandated lead arrangers.