Skip to main content
Premium Trial:

Request an Annual Quote

Qiagen Initiating First Tranche of Share Buyback Program; Repurchasing $10M of Shares

NEW YORK (GenomeWeb News) – Qiagen will repurchase the euro equivalent of up to $10 million of its shares starting Oct. 1 as part of the company's first share repurchase program, it said late on Friday.

The first tranche of the $100 million repurchase program will last until Nov. 5. Shares will be repurchased on the electronic trading platform of the Frankfurt Stock Exchange exclusively, and the first tranche will be limited to the buyback of a maximum of 570,000 shares. The company added that the maximum share price during the first tranche will not exceed by more than 10 percent the euro equivalent of the average closing price of the last five trading days prior to the day of purchase on the Nasdaq Global Select Market.

The purpose of the repurchase is to "hold the shares in treasury in order to satisfy obligations from exchangeable debt instruments and/or employee share-based remuneration plans," Qiagen said.

The firm announced the buyback program in July concurrent with the release of its second-quarter earnings results. Qiagen said at the time that the program would end Dec. 27, 2013.

Additional tranches of the program will be decided and announced separately.

The Scan

Genes Linked to White-Tailed Jackrabbits' Winter Coat Color Change

Climate change, the researchers noted in Science, may lead to camouflage mismatch and increase predation of white-tailed jackrabbits.

Adenine Base Editor Targets SCID Mutation in New Study

Researchers from the University of California, Los Angeles, report in Cell that adenine base editing was able to produce functional T lymphocytes in a model of severe combined immune deficiency.

Researchers Find Gene Affecting Alkaline Sensitivity in Plants

Researchers from the Chinese Academy of Science have found a locus affecting alkaline-salinity sensitivity, which could aid in efforts to improve crop productivity, as they report in Science.

International Team Proposes Checklist for Returning Genomic Research Results

Researchers in the European Journal of Human Genetics present a checklist to guide the return of genomic research results to study participants.