BERLIN (AP) — Germany-based Siemens Healthineers said Sunday it will buy U.S. cancer therapy and research company Varian in a deal worth around $16.4 billion.
Siemens Healthineers, in which industrial conglomerate Siemens holds a majority stake, said it will buy all shares in Varian Medical Systems, Inc. for $177.50 per share in cash.
It said that the acquisition is expected to close in the first half of 2021, and requires the approval of regulators and Varian shareholders. Varian's board of directors unanimously approved the agreement, it added.
Palo Alto, California-based Varian had revenues in the 2019 fiscal year of $3.2 billion, Siemens Healthineers said in a statement. Varian says it employs about 10,000 people around the world.
Siemens Healthineers said it plans to finance the acquisition with a mix of debt and equity.
It plans to issue new shares this year, a move that Siemens said will reduce its stake in Erlangen-based Siemens Healthineers to about 72% from 85%.
Companies Mentioned in This Article
Compare These Stocks Add These Stocks to My Watchlist 7 Best Stocks to Own Right Now
Today, we are inviting you to view our list of the seven best stocks to own for the next thirty days.
Why is it worth looking into these stocks? Some of Wall Street's most respected and most accurate research analysts have been upgrading these stocks and raising their price targets for these companies.
No, we're not talking recommendations from some no-name blogger or a junior analyst from a brokerage you've never heard of. These stocks have received multiple positive recommendations in the last 30 days from analysts that have received four star and five star rankings from MarketBeat's proprietary brokerage ranking system.
Analysts given four star and five star ratings from MarketBeat consistently issue accurate price targets and their buy recommendations often outperform the market by double digits. Buy recommendations from our current top-rated brokerage, National Securities, have gone up by an average of 47.5% in the 12 months after they were issued.
We've reviewed every research report published by these top-rated analysts in the last 90 days and have identified seven stocks that these analysts are poised for an immediate breakout.
View the "7 Best Stocks to Own Right Now".
