Oct 20 (Reuters) – European molecular testing company Qiagen is in advanced talks to be acquired by Swedish buyout firm EQT, Bloomberg News reported on Tuesday, citing people familiar with the matter.
US-listed shares of Qiagen were up over 6% in afternoon trading. The company has a market capitalization of €8.57 billion, according to data compiled by LSEG.
Qiagen’s board is meeting this week to decide on the potential deal, the report said, citing people familiar with the talks. There is no certainty the discussions will lead to a sale to EQT or another buyer, the report added.
EQT has submitted a binding offer of more than $50 per share for Qiagen, while US private equity firm KKR has also made a bid, Bloomberg News reported.
The reported talks come after Qiagen said in January it was evaluating strategic options amid renewed takeover interest.
Interest in the diagnostics company continued through the year, with buyout firms including EQT, Advent and KKR linked to a potential acquisition in July.
Qiagen develops molecular testing and sample-preparation technologies used by research and clinical laboratories.
EQT and KKR did not immediately respond to Reuters’ requests for comment. Qiagen said it does not comment on “market rumors or speculation.”
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(Reporting by Sahil Pandey in Bengaluru; Editing by Shreya Biswas)