Thermo Fisher Scientific has terminated its agreement to acquire Qiagen for $11.5 billion, the company said Aug. 13.
The Waltham, Mass.-based life sciences company said in March that it planned to acquire Qiagen, a Dutch diagnostics company. The deal was intended to expand Thermo Fisher's ability to detect infectious diseases, such as COVID-19, and was expected to close in the first half of 2021.
But two-thirds of Qiagen shareholders were required to tender their shares by Aug. 10 for the deal to go through, and only 47 percent did.
In accordance with the acquisition agreement, the deal was terminated, and Qiagen will pay Thermo Fisher $95 million in cash reimbursement.
Qiagen said it will acquire NeuMoDx, an integrated molecular testing platform.