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EQT agreed to acquire Qiagen in a 9.6 billion euro cash takeover backed by global institutional co-investors?
EQT reached a deal to buy Qiagen for 46.50 euros per share in cash, valuing the Dutch company at 9.6 billion euros in equity and 10.8 billion euros including debt
EQT buys medical test maker Qiagen for 9.6 billion euros
Sweden's EQT agreed to take Dutch lab testing specialist Qiagen private in an all-cash deal backed by sovereign and pension funds
In a nutshell
EQT assembled a consortium with the Abu Dhabi Investment Authority and Canada Pension Plan Investment Board to acquire Dutch diagnostics company Qiagen for 46.50 euros per share in cash, valuing its equity at 9.6 billion euros and enterprise value at 10.8 billion euros. The transaction, endorsed unanimously by Qiagen's boards, represents Europe's largest life-sciences buyout in several years and comes after an 11.5 billion dollar bid by Thermo Fisher Scientific failed in 2020. Alongside the announcement, Qiagen withdrew its 2026 outlook and reported preliminary third-quarter sales of $548 million, targeting completion in mid-2027 subject to antitrust approvals and a 50 percent plus one share tender threshold.
Highlights
- EQT agreed to pay 46.50 euros per share in cash to acquire Qiagen.
- The transaction values Qiagen's equity at 9.6 billion euros and its enterprise value at 10.8 billion euros.
- Sovereign investor Abu Dhabi Investment Authority and Canadian pension fund CPPIB joined EQT as equity co-investors.
- Qiagen suspended its 2026 financial guidance while reporting preliminary third-quarter revenue of $548 million.
- The takeover requires at least 50 percent plus one share acceptance and is targeted to close in mid-2027.
Qiagen Buyout Valuation Metrics
billion euros- The comparison between Qiagen's equity purchase price and its total transaction valuation including debt.
- Enterprise Value — A measure of a company's total value that includes its equity value plus net debt
- It shows the total capital commitment required by the consortium to take Qiagen private.
From the Editor’s Diary
Large-scale medical tool makers facing volatile public valuations increasingly look to private equity consortiums for stable, long-term capital outside quarterly market pressures.
Who's involved
EQT Private Equity
Swedish investment firm leading the transaction through its EQT XI fund
goal → wants to take Qiagen private to build out its international medical diagnostics portfolio
Qiagen N.V.
Netherlands-based company that produces kits and laboratory tests to analyze genetic material
goal → wants to secure an all-cash valuation for stockholders and continue developing its lab tools away from public markets
Abu Dhabi Investment Authority
Sovereign wealth fund run by the Emirate of Abu Dhabi investing as a consortium partner
goal → wants to allocate state reserves into profitable, high-demand medical assets
Canada Pension Plan Investment Board
Canadian state pension investment manager providing equity as a deal partner
goal → wants steady returns from essential healthcare infrastructure
In short
Europe's largest life-sciences buyout in years removes a long-standing independent cornerstone of clinical diagnostics and hands control of medical lab testing tools to private equity.
The takeover makes it likely that Qiagen will delist from public exchanges and operate away from quarterly market scrutiny under private ownership.
That outcome is likely, because Qiagen's managing and supervisory boards have both unanimously backed the offer, though it still requires standard regulatory clearances and approval from a majority of shareholders.
Flagged by: Global Markets Barometer · 22 October 2026
How it unfolded
Wires report imminent buyout as Qiagen shares rally
Financial newswires broke the first word that EQT was in advanced discussions to buy Qiagen for about 9.6 billion euros after an unexpected surge in trading lifted Qiagen's share price.
Qiagen boards endorse agreed buyout and reveal consortium partners
The informal market leaks hardened into an official agreement when both companies issued joint regulatory filings confirming the cash offer of 46.50 euros per share. EQT detailed that its EQT XI fund is partnering with sovereign wealth fund Abu Dhabi Investment Authority and Canadian pension manager CPP Investments to fund the buyout, while Qiagen simultaneously dropped its 2026 annual guidance and disclosed early third-quarter revenue figures.
Where things stand
Qiagen and EQT have signed their business combination contract, with Qiagen's leadership boards advising investors to tender their stock. Qiagen continues to run regular operations under its existing executive team while the deal advances.
Completion is scheduled for mid-2027, pending antitrust approval across multiple international jurisdictions and the condition that owners of 50 percent plus one share accept the buyout.