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Money Talks Louder To Sirtex As Varian Gets Ditched

Executive Summary

Sirtex Medical has accepted the acquisition bid from the owners of CDH Genetech for Aus $33.60 per share, or $1.41bn, that was first announced in May. In January, Varian signed a deal to acquire Sirtex for Aus$28 per share ($1.28bn), but decided not to match CDH's bid, and Sirtex's board decided the higher sale price was worth the additional uncertainties that come with accepting the offer.

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