Siemens raises $3.2B to fund Varian acquisition

2019 12 03 17 03 9108 Siemens Rsna 2019 400

Siemens Healthineers has raised 2.73 billion euros ($3.24 billion U.S.) 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 ($43.14) per share. The deal resulted in proceeds of 2.73 billion euros ($3.24 billion) 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 $16.4 billion. The acquisition is expected to be completed in the first half of calendar 2021.

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