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VAR - Why Varian Medical Systems Stock Surged Today
Varian Medical Systems Inc.
Shares of Varian Medical Systems (NYSE: VAR) jumped more than 20% on Monday after the cancer treatment specialist said it struck a deal to be acquired by Siemens Healthineers(OTC: SMMNY) for $16.4 billion.
The all-cash transaction would see Siemens Healthineers acquire all of Varian's outstanding stock for $177.50 per share, or roughly 24% higher than Varian's closing price on July 31.
Varian's stock rose sharply on news of its merger with Siemens Healthineers. Image source: Getty Images.