Oct 10 (Reuters) – California-based diagnostics firm Bio-Rad Laboratories (BIO.N) is in talks to merge with Qiagen NV (QIA.DE), the Wall Road Journal reported on Monday, citing folks conversant in the matter.
Talks between the 2 corporations have been occurring for some time however an settlement is unlikely for an additional few weeks, the report mentioned.
U.S-listed shares of Qiagen rose 8% whereas Bio-Rad fell almost 10% after the report.
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Bio Rad, which manufactures and provides merchandise reminiscent of laboratory equipment, devices and diagnostics, has a market-cap of $12.85 billion.
Each Qiagen and Bio-Rad didn’t instantly reply to Reuters’ requests for feedback.
In accordance with the WSJ report, a deal between the 2 corporations could possibly be price greater than $10 billion, making it one of many largest within the healthcare testing area after Illumina Inc’s (ILMN.O) $8-billion takeover of cancer-testing agency Grail.
Lab tools provider Thermo Fisher Scientific (TMO.N) in 2020 made a 11.3-billion-euro bid to accumulate Qiagen, which fell by means of after Qiagen shareholders rejected the provide following a hedge fund’s marketing campaign.
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Reporting by Bhanvi Satija in Bengaluru;
Modifying by Vinay Dwivedi
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