EQT has agreed to acquire Qiagen for €10.8 billion (about $12.1 billion) in cash, taking the life-sciences tools and diagnostics company private. The deal follows years of takeover interest and an on-and-off process that included Qiagen’s recent review of strategic prospects. Qiagen said its Supervisory and Managing Boards concluded the buyout offer offers the best foundation for the company’s next growth phase, citing greater flexibility to invest longer term under private ownership. EQT described the acquisition as expanding its platform in tools, diagnostics, and workflow solutions. The transaction structure includes indirect participation from Luxinva of Abu Dhabi Investment Authority and CPP Investment Board Europe. EQT said Qiagen would retain its name and operate independently under existing management until deal close, with shareholder approval requirements set at a high threshold. For the industry, the move consolidates a key supplier of molecular workflows at a time when diagnostic and lab infrastructure spending is under scrutiny, potentially reshaping procurement and partnership dynamics across biotech.