Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

This is the largest healthcare sector M&amp;A Deal announced so far in 2020. Earlier this year, in March, <a href="https://www.smartkarma.com/entities/thermo-fisher-scientific-inc" target="_blank" data-smartkarma-citation="entities:7375:1" rel="noopener">Thermo Fisher Scientific Inc (TMO US)</a> agreed to acquire <a href="https://www.smartkarma.com/entities/qiagen-nv" target="_blank" data-smartkarma-citation="entities:26865:1" rel="noopener">QIAGEN NV (QIA GY)</a> in a deal that originally valued the company at an EV of ~US$11bn. Last month, the Offer <a href="https://corporate.qiagen.com/newsroom/press-releases/2020/20200716_amended_offer" target="_blank" rel="noopener">was bumped</a> from the original offer price of €39.00 to €43.00 and the minimum acceptance threshold was reduced from 75% to 66.67%. Although the COVID-19 pandemic resulted in a slowdown in Deals in the early part of the year, M&amp;A activity in the medical devices space seems to be picking up again.More recently, on 2nd August 2020, Germany-based medtech company <a href="https://www.smartkarma.com/entities/siemens-healthineers-ag" target="_blank" data-smartkarma-citation="entities:29221:1" rel="noopener">Siemens Healthineers AG (SHL GR)</a> announced they would acquire US-based medical-devices maker <a href="https://www.smartkarma.com/entities/varian-medical-systems-inc" target="_blank" data-smartkarma-citation="entities:7308:1" rel="noopener">Varian Medical Systems (VAR US)</a> in an all-cash deal that valued the company at ~US$16.4bn. The Deal is conditional on the receipt of Varian shareholder approval and regulatory approvals. The Offer Price is $177.50 per share and the transaction is expected to close in the first half of calendar year 2021. As always, there is more below the fold.

This is the largest healthcare sector M&amp;A Deal announced so far in 2020. Earlier this year, in March, Thermo Fisher Scientific Inc (TMO US) agreed to acquire QIAGEN NV (QIA GY) in a deal that originally valued the company at an EV of ~US$11bn. Last month, the Offer was bumped from the original offer price of €39.00 to €43.00 and the minimum acceptance threshold was reduced from 75% to 66.67%. Although the COVID-19 pandemic resulted in a slowdown in Deals in the early part of the year, M&amp;A activity in the medical devices space seems to be picking up again.More recently, on 2nd August 2020, Germany-based medtech company Siemens Healthineers AG (SHL GR) announced they would acquire US-based medical-devices maker Varian Medical Systems (VAR US) in an all-cash deal that valued the company at ~US$16.4bn. The Deal is conditional on the receipt of Varian shareholder approval and regulatory approvals. The Offer Price is $177.50 per share and the transaction is expected to close in the first half of calendar year 2021. As always, there is more below the fold. 

Varian-Siemens Deal: DAX Promotion on the Cards for the Acquirer

Germany

Siemens Healthineers AG operates as a medical technology company. The Company provides medical imaging, laboratory diagnostics, point-of-care testing, digital ecosystem, and reading solutions for health care applications. Siemens Healthineers offers its services worldwide.

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Siemens Healthineers (SHL GR)

Varian-Siemens Deal: DAX Promotion on the Cards for the Acquirer

This is the largest healthcare sector M&A Deal announced so far in 2020. Earlier this year, in March, Thermo Fisher Scientific Inc (TMO US)...

Janaghan Jeyakumar, CFA

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