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Why Varian Medical Systems Stock Surged Today

TheMotleyFool

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Why Varian Medical Systems Stock Surged TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of Varian Medical Systems (NYSE: VAR) jumped more than 20% on Monday after the cancer treatment specialist said it struck a deal to be acquired by Siemens Healthineers (OTC: SMMNY) for $16.4 billion.

The all-cash transaction would see Siemens Healthineers acquire all of Varian's outstanding stock for $177.50 per share, or roughly 24% higher than Varian's closing price on July 31.

Varian's stock rose sharply on news of its merger with Siemens Healthineers. Image source: Getty Images.

Source Fool.com

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