BERLIN (AP) — Germany-based Siemens Healthineers said Sunday it will buy U.S. cancer therapy and research company Varian in a deal worth around $16.4 billion.

Siemens Healthineers, in which industrial conglomerate Siemens holds a majority stake, said it will buy all shares in Varian Medical Systems, Inc. for $177.50 per share in cash.

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