$TTOO For those who remember, QIAGEN (QGEN) was set to be acquired by industry giant Thermo Fisher (TMO) in a huge deal that had been worked out pre-pandemic. According to a July open letter by hedge fund known as Davidson Kempner Capital Management, one of QIAGEN’s largest shareholders, the offer was renegotiated up by 10% to nearly $13 Billion. Davidson Kempner Capital Management remained unsatisfied with the revised offer and wrote that the company should be worth much more. They upped their stake to 8% and withheld approval. On August 13, Thermo Fisher failed to get the required number of QGEN shareholders to agree to the buy-out offer, and thus the offer was terminated.
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