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GC Asia
Record Healthineers block leads equity deal rush
Siemens Healthineers, the German healthcare tech company, has sold €2.73bn of new stock in the largest block trade 2020 has seen so far to partly finance its $16.4bn acquisition of US cancer care solutions firm Varian. The consensus among ECM bankers is that it will be vital to execute transactions during the next few weeks, before a tempestuous US election and possible rises in Covid-19 cases spoil the party, write Sam Kerr and Aidan Gregory.
Healthineers, which was a division of Siemens before becoming a separately listed company in 2018, completed the first stage of financing the Varian acquisition on Wednesday evening by selling 75m of new shares — a 7.5% capital increase.
Varian designs and makes medical equipment used to diagnose and ...Already a subscriber? Login
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