QIAGEN N.V. (QGEN +1.3%) is up modestly, albeit on below-average volume, on the heels of a letter to its board from institutional investor Davidson Kempner stating that Thermo Fisher Scientifics' (TMO -1.1%) €39/share bid (€10.4B) is "inadequate" and "fails to reflect" [the company's] fundamental standalone value and offers shareholders "no premium for control."

Davidson Kempner owns 3% of the diagnostic test maker.

In June, United First Partners' Stephane Mardel said that TMO may have to boost its offer after proxy advisor Glass Lewis recommended voting against "Top Up" resolutions.

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