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News > Deals
Siemens buys Acuson
September 27, 2000: 10:35 a.m. ET

German firm's medical unit to pay $700M for ultrasound gear maker
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NEW YORK (CNNfn) - Siemens AG agreed Wednesday to buy Acuson Corp., a U.S.-based maker of ultrasound systems, for about $700 million, giving another boost to the German technology company's health-care operations.

Siemens' health-care division, Siemens' Medical Engineering Group, will offer $23 cash for each share of Acuson (ACN: Research, Estimates) outstanding, a 47 percent premium over Acuson's closing price of $15.69 Tuesday.

In early Wednesday trading, Acuson shares gained $6.94 to a 52-week high of $22.63. The stock previously traded in a range of $9.81 to $16.68 over the past year.

graphicMountain View, Calif.-based Acuson makes Sequoia, the top-selling ultrasound imaging system in the United States. The company had revenue of $475.9 million last year and has more than 1,900 employees worldwide.

"This merger creates a premier ultrasound business," said Dr. Erich R. Reinhardt, president and CEO of Siemens' Medical Engineering. "Together our products will cover the entire market for ultrasound equipment and IT-networking, from portable devices to ultra-premium platforms."

The tender offer is expected to close by early November and the deal is anticipated to be complete by the end of the year.

Siemens shares added 0.2 percent to 157.30 euros in afternoon trading in Frankfurt. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.