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Monday, November 25, 2024

Home Business Siemens unit to buy Varian in $16bn healthcare deal

Siemens unit to buy Varian in $16bn healthcare deal

by News desk
August 4, 2020
in Business

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Bloomberg

Siemens Healthineers agreed to buy Varian Medical Systems for about $16.4bn in cash in the biggest medical acquisition of the year.
The German medical technology company offered $177.5 a share for the Palo Alto, California-based business, 24% more than its closing price on Friday. The bid will be financed through both debt and equity, Siemens Healthineers said in a statement yesterday. Bloomberg was first to report the offer on Saturday.
The deal would give Healthineers a sizeable market share in the rapidly growing field of cancer treatment where it has little presence currently. Siemens Healthineers said the purchase will a have a positive effect on earnings per share within the first 12 months of the closing.–AFP