EQT agrees €10.8B all-cash takeover of Qiagen

Qiagen and EQT Private Equity's EQT XI fund agreed a recommended voluntary all-cash public takeover offer for the diagnostics and life-sciences tools maker. Bidder Crown NL Bidco B.V., indirectly controlled by EQT XI, will offer €46.50 per share, valuing the deal at about €10.8 billion. EQT says the investment will leave EQT XI 10-15% invested.

Why it matters: It is one of the year's largest European take-privates and an early marquee deployment for EQT's new €23 billion flagship fund.