(Reuters) - Genetic testing firm Qiagen NV (QIA.DE) (QGEN.N) said on Tuesday it has concluded a review of potential alternatives, including a sale of the company, and determined that continuing to be a stand-alone business is its best option.
The company’s U.S.-listed shares slumped 26.4% to $30.48 after the bell.
Qiagen said it got several indications of interest for an acquisition, but has now terminated all discussions saying they were not compelling.
The company, with a market capitalization of $9.32 billion as of Tuesday’s close, said in November it started reviewing options after receiving several indications of interest for a buyout.
Medical device maker Thermo Fisher Scientific Inc (TMO.N) approached Qiagen about a potential deal, according to media reports in November.
Qiagen Chief Executive Officer Peer Schatz stepped down in October after the company posted preliminary third-quarter sales below estimates.
Reporting by Roshan Abraham and Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta