EQT agreed to acquire Qiagen for about €10.8 billion ($12.1 billion) in cash, valuing the life-sciences tools and diagnostics provider ahead of a shift to private ownership. The deal structure is expected to take Qiagen private and give longer-term flexibility for investment in its next growth phase. The transaction follows years of takeover interest and periodic strategic review, with Qiagen’s boards citing the benefits of operational flexibility under a private owner. EQT said it would continue Qiagen’s brands and R&D footprint after closing, while supporting its long-term strategy. For the biotech supply chain, a private Qiagen could affect pricing and service continuity for sequencing, sample prep, and diagnostics workflows—key infrastructure for drug development and clinical testing. The next milestone is shareholder approval and completion of the takeover offer process.