<article>Varian Medical Systems said on Tuesday it has struck a deal to acquire Australia&#8217;s Sirtex Medical Ltd for about $1.3 billion, expanding its portfolio of cancer care products.</article>

Varian Medical Systems said on Tuesday it has struck a deal to acquire Australia&#8217;s Sirtex Medical Ltd for about $1.3 billion, expanding its portfolio of cancer care products.
Sirtex, whose best known product is a targeted internal radiation therapy for certain liver cancers, said in a statement its board unanimously recommended the acquisition.
Varian will offer A$28 per share, a 49 percent premium to Sirtex&#8217;s closing price of A$18.83 per share on Monday. Trade was halted on Tuesday, pending the announcement.
The deal is subject to approval from the Foreign Investment Review Board and other competition authorities.
Varian said it plans to finance the acquisition using cash on hand and proceeds from borrowings, adding that the deal is expected to close in late May 2018.
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Reuters

Varian Medical Systems has struck a deal to acquire Australia’s Sirtex Medical Ltd for about $1.3 billion, expanding its portfolio of cancer care products.

Varian Medical to buy Australia's Sirtex for $1.3b

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Varian Medical to buy Australia's Sirtex for $1.3b

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