Agilent/Varian, Inc. deal
This article was originally published in The Gray Sheet
Executive Summary
Agilent will pay $1.5 billion, or $52 per share, for scientific instrumentation marketer Varian, Inc. (not to be confused with Varian Medical Systems), the firms announced July 27. The acquisition will establish Agilent as a leader in nuclear magnetic resonance, imaging and vacuum technologies and expand its presence in atomic and molecular spectroscopy, according to the company. The deal is expected to close by year end, after which Agilent CFO Adrian Dillon will be responsible for integrating Varian into Agilent's Bio-Analytical Measurement division. The elimination of duplicate operations following the merger is expected to generate $75 million in annual savings, Agilent said