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Qiagen chairman quits after Thermo Fisher's takeover bid fails

Qiagen chairman quits after Thermo Fisher's takeover bid fails

FILE PHOTO: Illustration of products are pictured from Qiagen, the diagnostics company which has agreed an $11.5 billion takeover deal with U.S-based Thermo Fisher in this picture illustration obtained by Reuters March 3, 2020. Qiagen/Handout via REUTERS

FRANKFURT: Qiagen said its non-executive Chairman Hakan Bjoerklund had resigned with immediate effect after the genetic testing company's shareholders rejected an improved takeover offer from Thermo Fisher .

Qiagen board member Lawrence Rosen, the former finance chief of postal services group Deutsche Post , has been elected to replace Bjoerklund as chairman, the company said in a statement on Friday, without providing a reason for the departure.

Thermo Fisher last week walked away from its 11.3 billion euro (US$13.30 billion) takeover deal after Qiagen's earnings were boosted by coronavirus diagnostics, leaving its shareholders reluctant to cash out.

(US$1 = 0.8498 euros)

(Reporting by Ludwig Burger; Editing by Susan Fenton)

Source: Reuters

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