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Davidson Kempner says won't tender its Qiagen shares at current Thermo Fisher offer price

Hedge fund Davidson Kempner said on Wednesday Thermo Fisher's acquisition offer for German genetic test maker Qiagen was "wholly inadequate" and that it would not tenderings its share into the deal at the current offer.

July 15 (Reuters) - Hedge fund Davidson Kempner said on Wednesday Thermo Fisher's acquisition offer for German genetic test maker Qiagen was "wholly inadequate" and that it would not tenderings its share into the deal at the current offer.

The fund which holds 3.1% of Qiagen shares, said the company should be sold for 50 euros ($57.21) a share, far below Thermo Fisher's current offer of 39 euros.

It said that in light of Qiagen's QIA.DE Q2 profits upgrade, Thermo Fisher Scientific's TMO.N offer for the company is far from fair value and must be modified.

(Reporting by Maiya Keidan; editing by Sujata Rao)

((sujata.rao@thomsonreuters.com; +44 207 542 6176;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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