Waiting period ends in Qiagen, Digene cash and stock merger

By Lisa Kerner

Charlotte, N.C., July 17 - The Hart-Scott-Rodino waiting period in the proposed merger of Qiagen NV and Digene Corp. expired on July 16. The transaction is slated to close in August or September.

As previously reported, on June 3 Qiagen agreed to acquire Digene in a cash and stock transaction valued at $1.6 billion. Under the agreement, Digene shareholders may elect to receive $61.25 in cash or 3.545 shares of Qiagen stock for each Digene share. The agreement includes a $59 million termination fee payable to Digene.

Following the transaction's close, Qiagen shareholders will own about 78% of the combined company, and Digene shareholders will own the remaining 22%.

Both companies' boards of directors approved the deal to combine Qiagen's portfolio of sample and assay technologies with Digene's molecular diagnostic testing.

Digene develops proprietary DNA and RNA testing systems in Gaithersburg, Md.

Qiagen is a biotechnology company based in Venlo, the Netherlands.

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