Qiagen chairman quits after Thermo Fisher’s takeover bid fails

imageStock Markets35 minutes ago (Aug 21, 2020 12:20PM ET)

(C) Reuters.

FRANKFURT (Reuters) – Qiagen (DE:QIA) said its non-executive Chairman Hakan Bjoerklund had resigned with immediate effect after the genetic testing company’s shareholders rejected an improved takeover offer from Thermo Fisher (N:TMO).

Qiagen board member Lawrence Rosen, the former finance chief of postal services group Deutsche Post (DE:DPWGn), has been elected to replace Bjoerklund as chairman, the company said in a statement on Friday, without providing a reason for the departure.

Thermo Fisher last week walked away from its 11.3 billion euro ($13.30 billion) takeover deal after Qiagen’s earnings were boosted by coronavirus diagnostics, leaving its shareholders reluctant to cash out.

($1 = 0.8498 euros)

Qiagen chairman quits after Thermo Fisher’s takeover bid fails

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