(Bloomberg) -- Siemens Healthineers agreed to buy Varian Medical Systems for about $16.4 billion in cash in the biggest medical acquisition of the year.The German medical technology company offered $177.5 a share for the Palo Alto, California-based business, 24% more than its closing price on Friday. The bid will be financed through both debt and equity, Siemens Healthineers said in a statement on Sunday. Bloomberg was first to report the offer on Saturday.The deal would give Healthineers a sizable market share in the rapidly growing field of cancer treatment where it has little presence currently. Siemens Healthineers said the purchase will a have a positive effect on earnings per share withing the first 12 months of the closing.The acquisition comes amid early signs of a pickup in deals after the spread of the coronavirus and a worsening economic outlook damped sentiment this year. Deal activity in the medical devices industry is...
Tesla Inc.’s (TSLA) billionaire founder Elon Musk said that the electric car maker sees “strong” order demand during the coronavirus pandemic even as some dealerships have been shut down.“We saw strong orders through the whole pandemic, we still had a good order volume,” Musk said in an interview to Automotive News’ Daily Drive podcast released on Friday. “I guess people are less inclined to want to go to a dealership, do the test drive and hang out in the lobby and that kind of thing.”During the second quarter, Tesla’s vehicle production was affected by the pandemic, like most other automakers. Its main California factory was shut down for more than a month, and a lot of its retail operations were closed due to restrictions put in place to try to slow down the pace of the pandemic.What’s more, the global economic crisis made many people think twice about a large purchase...
