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Qiagen Completes Exiqon Tender Offer

NEW YORK (GenomeWeb) – Qiagen announced today that its tender offer for Exiqon has been successfully completed as nearly 95 percent of the Danish molecular diagnostics company's shareholders have accepted the terms of the deal.

The acceptances from Exiqon shareholders represent nearly 35 million shares, Qiagen said. The company expects to close the all-cash DKK683 million ($103.5 million) deal no later than June 28. In a statement, Qiagen added it will apply for a delisting of Exiqon shares, and "intends to initiate a squeeze-out of the remaining minority shareholders immediately after completion of the offer."

"We are very pleased to have completed this transaction and will now initiate the integration process," said Qiagen CEO Peer Schatz in the statement. "We welcome our new employees to the Qiagen family and look forward to providing the exciting benefits of the now combined portfolio to research and diagnostic laboratories."

Qiagen first made its bid for Exiqon in March, but was forced to amend certain of the deal's terms three times. The third amendment earlier this month called for changing the acceptance threshold from 90 percent to around 89 percent.