Swedish private-equity group EQT has agreed to acquire molecular-testing company Qiagen in a transaction worth approximately €9.6 billion, or $10.8 billion, marking one of Europe’s largest recent take-private transactions.
EQT is offering €46.50 for each Qiagen share.
The transaction values Qiagen at approximately $12.1 billion including debt and is expected to close in mid-2027, subject to regulatory approvals and other closing conditions.
Qiagen’s boards have approved the transaction. Affiliates of the Abu Dhabi Investment Authority and Canada Pension Plan Investment Board are also participating alongside EQT.
The agreement brings years of takeover speculation surrounding Qiagen closer to a conclusion.
Thermo Fisher Scientific attempted to acquire the diagnostics company in 2020, but that transaction failed after it did not receive sufficient shareholder support.
Qiagen produces molecular-testing and sample-preparation technologies used by research laboratories, pharmaceutical companies and clinical-diagnostics operations.
The company reported preliminary third-quarter net sales of approximately $548 million and adjusted earnings of $0.65 per share. Qiagen has suspended its full-year 2026 outlook while the acquisition process proceeds.
For European deal markets, the transaction demonstrates that major private-equity groups remain willing to deploy substantial capital into healthcare assets despite elevated financing costs.
It also gives EQT exposure to a diagnostics business operating across research, pharmaceutical development and clinical testing.
The next stage will be regulatory review and completion of the takeover process as EQT works toward the planned 2027 closing.
