Davidson Kempner says won't tender its Qiagen shares at current Thermo Fisher offer price

(Reuters) – Hedge fund Davidson Kempner said on Wednesday Thermo Fisher’s acquisition offer for German genetic test maker Qiagen was “wholly inadequate” and that it would not tenderings its share into the deal at the current offer.

The fund which holds 3.1% of Qiagen shares, said the company should be sold for 50 euros ($57.21) a share, far below Thermo Fisher’s current offer of 39 euros.

It said that in light of Qiagen’s (QIA.DE) Q2 profits upgrade, Thermo Fisher Scientific’s (TMO.N) offer for the company is far from fair value and must be modified.

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