Qiagen investor Davidson Kempner ups stake to 8%

By Metro US Posted on August 3, 2020

Anthony Yoseloff, Co-Executive Managing Member, Davidson Kempner Capital Management, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills

FRANKFURT (Reuters) – Hedge fund Davidson Kempner said on Monday it had raised its stake in takeover target Qiagen <QIA.DE> to 8% from 7.3% previously, reaffirming its opposition to Thermo Fisher’s <TMO.N> 11.3 billion euro ($13.3 billion) bid.

“We remain confident in Qiagen’s prospects and that the standalone value is attractive over both the short and long term,” the investor said.

Thermo Fisher’s sweetened 43 euros per share offer was “wholly inadequate” and the target’s fair value on a standalone basis was between 48 and 52 euros per share, it added.

(Reporting by Ludwig Burger; editing by Tom Sims)