Wires

UPDATE 1-Qiagen decides against sale following review, shares fall

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Dec 24 (Reuters) - Genetic testing firm Qiagen NV 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. (https://bwnews.pr/2ZrrG5d)

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 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)