Siemens raises 2.7B euros to fund Varian acquisition

By staff writers

September 3, 2020 -- Siemens Healthineers has raised 2.73 billion euros in capital to fund the company's acquisition of Varian Medical Systems, a deal that was announced in August.

Siemens issued 75 million new shares with institutional investors at a price of 36.4 euros per share. The deal resulted in proceeds of 2.73 billion euros before deducting expenses and will increase the company's share capital by 7.5%.

The company had announced the funding round previously, stating that the capital would be used to partially fund its acquisition of Varian in a deal valued at 13.8 billion euros. The acquisition is expected to be completed in the first half of calendar 2021.

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