Qiagen investor PSquared won't tender shares in Thermo Fisher bid

Switzerland-based PSquared Asset Management on Wednesday unveiled a stake of more than 4% in Qiagen, adding it would not tender its shares into a $12.9 billion (9.95 billion pounds) offer by U.S. laboratory equipment supplier Thermo Fisher.

"PSquared believes that the current cash offer by Thermo Fisher at 43 euros per share materially undervalues Qiagen on a standalone basis," the fund said in response to a Reuters request.

"PSquared will not tender any shares into the current offer."

Hedge fund Davidson Kempner, which says it owns more than 5% of Qiagen, a day earlier said it would not tender its shares into the offer, adding a price of between 48 euros and 52 euros a share was more appropriate.

(Reporting by Paul Arnold and Oliver Hirt; Writing by Christoph Steitz; Editing by Michelle Martin)