Siemens Healthineers: acquires US group Varian
(CercleFinance.com) - On Monday, alongside its quarterly results, Siemens Healthineers announced the acquisition of Varian, a US manufacturer of medical devices and software for cancer treatment, in a deal worth 16.
4 billion dollars.
The medical equipment division of the German industrial conglomerate said it intends to offer 177.5 dollars in cash for each Varian share, i.e. A 24% premium above its closing price of 142.7 dollars on the NYSE on Friday.
The proposed acquisition - which has already been approved by Varian's board of directors - is expected to be completed in the first half of next year, Siemens Healthineers said in a statement.
Siemens and Varian have been working together since 2012 as part of a global strategic partnership to provide image-guided radiotherapy and radiosurgery solutions for cancer treatment.
Siemens also announced that its shareholding in Siemens Healthineers would fall from 85% to 72% following the transaction, which will be partly financed by a capital increase.
In terms of earnings, Siemens Healthineers reported a 6.9% decline in sales on a comparable basis for the past quarter, against the backdrop of the Covid-19 crisis, resulting in a 21% decline in adjusted EPS for the period (to 0.30 euro).
Siemens Healthineers shares were down over 4% on Monday morning on the Frankfurt Stock Exchange following these announcements.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
4 billion dollars.
The medical equipment division of the German industrial conglomerate said it intends to offer 177.5 dollars in cash for each Varian share, i.e. A 24% premium above its closing price of 142.7 dollars on the NYSE on Friday.
The proposed acquisition - which has already been approved by Varian's board of directors - is expected to be completed in the first half of next year, Siemens Healthineers said in a statement.
Siemens and Varian have been working together since 2012 as part of a global strategic partnership to provide image-guided radiotherapy and radiosurgery solutions for cancer treatment.
Siemens also announced that its shareholding in Siemens Healthineers would fall from 85% to 72% following the transaction, which will be partly financed by a capital increase.
In terms of earnings, Siemens Healthineers reported a 6.9% decline in sales on a comparable basis for the past quarter, against the backdrop of the Covid-19 crisis, resulting in a 21% decline in adjusted EPS for the period (to 0.30 euro).
Siemens Healthineers shares were down over 4% on Monday morning on the Frankfurt Stock Exchange following these announcements.
Copyright (c) 2020 CercleFinance.com. All rights reserved.