QIAGEN to submit conditional voluntary takeover offer for shares of Exiqon A/S
QIAGEN N.V. announced that it has decided to submit a conditional voluntary takeover offer to the shareholders of Exiqon A/S to purchase all shares in Exiqon. The acquisition is expected to expand QIAGEN’s leadership position in Sample to Insight solutions for RNA analysis. This announcement is made in accordance with section 4 of the Danish Executive Order no. 562 of 2 June 2014 on takeover bids ("Executive Order on Takeover Bids").
Exiqon, founded in 1995 and headquartered in Vedbaek, Denmark, is a leader in the emerging market for non-coding RNA (ncRNA) such as micro RNA (miRNA) and long non-coding RNA (lncRNA). These functionally important molecules are demonstrating great promise in cellular function and regulation. In addition to products spanning sample technologies, assay technologies and bioinformatics solutions, Exiqon brings to QIAGEN a portfolio of proprietary technologies and know-how used in molecular testing, including relevant Locked Nucleic Acid (LNA) technology. LNA greatly improves the specificity and sensitivity in PCR, NGS target enrichment and in functional assays. The company has around 100 employees at sites in Denmark and the US and reported net sales of approximately $20 million in 2015.
The total consideration to fully acquire Exiqon is estimated at approximately DKK 683 million. Based on a currency exchange rate of DKK 1.00 = $0.150 (market rate as of March, 29, 2016), the transaction is valued at approximately $100 million.
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