Varian bid for Sirtex clears regulatory hurdle

Varian Medical Systems' proposed acquisition of Sirtex Medical has been cleared by U.S. antitrust authorities and the German Federal Cartel Office (FCO).

The companies first announced their $1.3 billion deal in January 2018. The proposed acquisition is still subject to the approval of Sirtex shareholders, the Federal Court of Australia, and other customary closing conditions before final closure.

The U.S. antitrust authorities cited the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 in permitting early termination of the waiting period for the deal. The German FCO has determined that the agreement does not violate the Act Against Restraints of Competition.

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