Siemens Healthineers will buy Varian Medical Systems for $16.4 billion, at $177.5 per share, representing a premium of approximately 42% over the weighted average price on the market over the past 30 days. The transaction is expected to close in the first half of calendar year 2021 subject to approval by Varian's shareholders. Upon completion of the merger, Varian will continue to operate as an independent company under the Varian brand within Siemens Healthineers.