We are advising QIAGEN on the transaction

Davis Polk is advising QIAGEN N.V. on a recommended voluntary all-cash public takeover offer by EQT Private Equity for all outstanding QIAGEN shares. The transaction values QIAGEN at approximately €10.8 billion ($12.1 billion) in enterprise value and is expected to close in mid-2027, subject to customary closing conditions and required regulatory approvals.

QIAGEN, a Netherlands-based holding company, is a global leader in Sample to Insight solutions that enable customers to extract and analyze molecular information from biological samples containing the building blocks of life. Its Sample technologies isolate and process DNA, RNA and proteins, while its Assay technologies, bioinformatics and automation solutions support the analysis and interpretation of complex data. QIAGEN serves more than 500,000 customers worldwide in life sciences (academia, pharmaceutical R&D and industrial applications such as forensics) and molecular diagnostics (clinical healthcare).

EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of more than three decades of developing companies across multiple geographies, sectors and strategies. As of September 30, 2026, the firm had €354 billion in total assets under management within four business segments – private capital, infrastructure, real estate and secondaries. EQT has offices in more than 25 countries across Europe, Asia Pacific, the Americas and the Middle East.

The Davis Polk corporate team includes partners H. Oliver Smith and Michael Gilson and associate Constantine (Costa) Theodore. Partner Connie I. Milonakis and associate Shelby Young are providing capital markets advice. Partner Jennifer S. Conway and counsel Christina Rose Andersen are providing executive compensation advice. Partner William A. Curran and associate Albert Park are providing tax advice. Partner David R. Bauer is providing intellectual property and commercial transactions advice. Members of the Davis Polk team are based in the New York and London offices.

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