Agilent to purchase Varian for $1.5 billion
SANTA CLARA, Calif. – Agilent Technologies Inc. (NYSE: A) signed an agreement to purchase a scientific instrumentation company in a deal worth $1.5 billion.
Per the agreement, Agilent will pay $52 cash for each share of Varian Inc. (NasdaqGS: VARI) common stock — a 35 percent premium to the closing price on July 24. The boards of directors at both companies unanimously approved the all-cash deal.
The Varian acquisition will add to Agilent’s life sciences, environmental and energy and materials business.
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“This acquisition is a major step in Agilent’s transformation into a leading bio-analytical measurement company,´ said Bill Sullivan, Agilent’s president and CEO, in a prepared statement. “While we continue to be a world leader in electronic measurement, our biggest opportunities for future growth are in bio-analytical measurement.
The transaction is subject to approval from Varian’s shareholders and regulatory approvals. It is expected to close by the end of the year.
Agilent’s stock was up 31 cents to $22.50 in mid-day trading.
SANTA CLARA, Calif. – Agilent Technologies Inc. (NYSE: A) signed an agreement to purchase a scientific instrumentation company in a deal worth $1.5 billion.
Per the agreement, Agilent will pay $52 cash for each share of Varian Inc. (NasdaqGS: VARI) common stock — a 35 percent premium to the closing price on July 24. The boards of directors at both companies unanimously approved the all-cash deal.
The Varian acquisition will add to Agilent’s life sciences, environmental and energy and materials business.
“This acquisition is a major step in Agilent’s transformation into a leading bio-analytical measurement company,´ said Bill Sullivan, Agilent’s president and CEO,…
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