Qiagen Shares Rise on Acquisition Rumors

May 22, 2009

NEW YORK (GenomeWeb News) – Shares of Qiagen rose around 6 percent in Friday trade on the Nasdaq after rumors circulated in Europe that French drugmaker Sanofi-Aventis was mulling a €14.50 ($20.29) per share bid to acquire the firm.

Neither firm would comment on the rumors.

The rumored acquisition price represents a 26 percent premium over Qiagen's Thursday closing price of $16.05. In Friday afternoon trade, Qiagen's shares were up 6 percent at $17.01.

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