BioCentury
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Qiagen raises $556.9 million

September 26, 2009 12:29 AM UTC

Qiagen N.V. (Xetra:QIA; NASDAQ:QGEN) raised $556.9 million through the sale of 27.5 million shares at $20.25 in a follow-on. Qiagen proposed the offering late Tuesday, when its share price was $22.37. The offering was underwritten by Deutsche Bank; Goldman Sachs; JPMorgan; Barclays Capital; Commerzbank; DZ Bank; and Mitsubishi UFJ.

Qiagen said it plans to use part of the proceeds to fund Tuesday's acquisition of fellow diagnostic company DxS Ltd. (Manchester, U.K.) in a deal valued at $95 million in cash, plus up to $35 million if milestones are met (See BioCentury Extra, Tuesday, Sep. 22, 2009). ...