QIAGEN N.V. (“QIAGEN”) has announced that it has entered into a Business Combination Agreement with Crown NL Bidco B.V. (the “Bidder”), a holding company controlled by private equity firm EQT AB. The co-investors are Luxinva S.A., a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and CPP Investment Board Europe Inc., a wholly-owned subsidiary of the Canada Pension Plan Investment Board (CPP Investments).
The transaction will be implemented through a public tender offer by the Bidder for all issued ordinary shares of QIAGEN for a cash consideration of EUR 46.50 per QIAGEN share. The transaction values QIAGEN at approximately EUR 10.8 billion in enterprise value (approximately USD 12.1 billion at current exchange rates, including approximately USD 1.1 billion of net debt).
QIAGEN is listed in Frankfurt (inter alia in the Prime Standard and DAX 40) and on the New York Stock Exchange (NYSE).
Perella Weinberg is acting as independent financial advisor to the Supervisory Board of QIAGEN. Gleiss Lutz advises Perella Weinberg on various legal aspects in connection with the transaction. For matters of U.S. law, Gleiss Lutz works together with Vinson & Elkins LLP, with Gleiss Lutz acting as lead counsel.
Perella Weinberg is advised by the following team of Gleiss Lutz lawyers: Dr. Jochen Tyrolt (partner, lead), Dr. Christian Cascante (partner, both Stuttgart), Florian Schorn (Munich, all Corporate/M&A).
Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in high-profile deals (both friendly and hostile) – advising buyers, targets or investment banks. In the last years it advised, inter alia, in connection with the following public takeovers: Frasers Group ./. HUGO BOSS; Persistent Systems Ltd ./. Nagarro SE; UniCredit S.p.A. ./. Commerzbank AG; Worthington Steel ./. Klöckner & Co SE; ADNOC ./. COVESTRO; Telefónica S.A. ./. Telefónica Deutschland Holding AG; Silver Lake ./. Software AG; Cinven ./. SYNLAB AG; Vitesco ./. Schaeffler.
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