Qiagen chairman quits after Thermo Fisher's takeover bid fails

FILE PHOTO: Illustration of products are pictured from Qiagen, the diagnostics company which has agreed an $11.5 billion takeover deal with U.S-based Thermo Fisher in this picture illustration obtained by Reuters March 3, 2020. Qiagen/Handout via REUTERS

FRANKFURT (Reuters) - Qiagen QIA.DE said its non-executive Chairman Hakan Bjoerklund had resigned with immediate effect after the genetic testing company's shareholders rejected an improved takeover offer from Thermo Fisher TMO.N.

Qiagen board member Lawrence Rosen, the former finance chief of postal services group Deutsche Post DPWGn.DE, has been elected to replace Bjoerklund as chairman, the company said in a statement on Friday, without providing a reason for the departure.

Thermo Fisher last week walked away from its 11.3 billion euro ($13.30 billion) takeover deal after Qiagen’s earnings were boosted by coronavirus diagnostics, leaving its shareholders reluctant to cash out.

($1 = 0.8498 euros)

Reporting by Ludwig Burger; Editing by Susan Fenton