Monday, July 27, 2009

Agilent To Pay $1.5 Billion For Varian

Santa Clara-based Agilent Technologies and Palo Alto-based Varian said this morning that the two are in a definitive agreement where Agilent will pay $1.5 billion for Varian, a developer of scientific instrumentation for the life science and other markets. Agilent will pay $52 in cash per share of Varian common stock. The firms said that their boards have unanimously approved the offer, which is a premium of approximately 35% on Varian's closing price on Friday. Agilent said the buy would broaden its products in the life science, environmental, and energy and materials segments of its business.