Qiagen: Novo and Roche Could Drive The Shares Towards $45

Qiagen quoted on the US Nasdaq, but a Dutch company, is a provider of testing technologies used in pharma research and has a $7bn market cap. It is said to be in the sights of a fellow European company – Novo Nordisk. Novo is apparently looking to buy a 25% stake in Qiagen, or would alternatively go for a fully fledged bid. It has been advised that obtaining a stake is not going to be easy, as big institutions are keen to stick to their holdings.

A full deal could fetch $45, especially given talk that Roche may also be interested. Citibank is said to be the advisor on the deal. Looking at the daily chart of Qiagen, recent support above $30 implies that it would be surprising if there were not a return towards the $35 zone year highs, however the alleged M&A angle plays out.

qia

Disclaimer

Zakmir.com is a purely journalistic website – Zak Mir is a member of the NUJ. There is no intention here of providing financial advice and absolutely no interest in speculating in the companies mentioned. It is  recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

Author: Zak Mir

Financial commentator, interviewer, technical analyst

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