![]() ![]() was signed on Jwith the consent of the competent committee of the supervisory board, subject to evidence of the conclusion of the agreement, and entered into force on August 2, 2020. The agreement on the bridge facility between Siemens Healthineers and Siemens Finance B.V. It is planned that the remaining amount under the bridge facility will be refinanced through loans provided by Siemens AG or one of its subsidiaries to Siemens Healthineers at arm's lengths conditions. In a first step, Siemens Healthineers plans to place new shares without a prospectus, depending on market conditions, still within calendar year 2020. For this purpose, Siemens Healthineers intends to increase the share capital by issuing new shares with subscription rights expected to be excluded. Siemens Healthineers plans to replace up to approximately 50 percent of the amount available under the bridge facility provided by Siemens Finance B.V. 1 Sentence 2 German Stock Corporation Act ( Aktiengesetz), will provide Siemens Healthineers for a transitional period with a bridge facility in an amount of ?15.2 billion to finance the acquisition price and additional costs and expenses in connection with the acquisition of Varian. Siemens Finance B.V., a subsidiary of Siemens Aktiengesellschaft ("Siemens AG"), which controls Siemens Healthineers and is a related party within the meaning of Sect. ![]() Siemens Healthineers plans to finance the acquisition of Varian with a mix of debt and equity. Such synergies will be a mix of revenue and cost synergies, of which the revenue synergies are expected to contribute a significant portion over time. Siemens Healthineers aims for EBIT synergies after the closing of the acquisition of at least ?300 million per annum in fiscal year 2025. The acquisition of Varian is expected to have a positive effect on the adjusted basic earnings per share of Siemens Healthineers within the first 12 months after its closing. The acquisition of Varian is expected to close in the first half of calendar year 2021, with closing being subject to the Varian shareholders' approval, receipt of regulatory approvals and satisfaction of other customary closing conditions. The Board of Directors of Varian has unanimously approved the conclusion of the agreement and recommends to the Varian shareholders also to approve the agreement. In fiscal year 2019, Varian's revenues had amounted to $3.2 billion with an adjusted operating margin of approximately 17 percent. This corresponds to a purchase price of Varian of approx. (NYSE: VAR) ("Varian"), a global leader in the field of cancer care, pursuant to which Siemens Healthineers shall acquire all shares of Varian for $177.50 per share in cash. Siemens Healthineers AG (Frankfurt: SHL) ("Siemens Healthineers") today entered into an agreement with Varian Medical Systems, Inc. ![]()
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