Connect with us

Top Stories

Exclusive: Siemens Healthineers to win EU approval for $16.4 billion Varian buy – sources

Exclusive: Siemens Healthineers to win EU approval for $16.4 billion Varian buy - sources 1

By Foo Yun Chee and Alexander Hübner

BRUSSELS/MUNICH (Reuters) – German health group Siemens Healthineers is set to win EU antitrust approval for its $16.4-billion purchase of U.S. peer Varian Medical Systems Inc in a deal that will make it a world leader in cancer care therapy, four people familiar with the matter said.

Siemens Healthineers, spun off and floated in 2018 by Siemens, announced the acquisition in August last year. Varian is the leader in radiation therapy with a market share of more than 50%.

Siemens Healthineers last month offered concessions to address competition concerns about interoperability, the sources said. Such a measure enables computer systems and software to work with each other.

The European Commission, which is scheduled to decide on the deal by Feb. 19, declined to comment.

“We are in constructive talks with the EU,” a Siemens Healthineers spokesman said.

U.S. antitrust authorities granted unconditional approval to the deal in October last year. EU clearance would put the company on track to close the takeover in the first half of this year.

(Reporting by Foo Yun Chee in Brussels and Alexander Huebner in Munich; editing by David Evans)

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2022
2022 Awards now open. Click Here to Nominate

Advertisement

Newsletters with Secrets & Analysis. Subscribe Now