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Varian to Acquire Magnex Scientific, Announces Layoffs

Varian announced this week that it has signed a definitive agreement to acquire Magnex Scientific, a manufacturer of superconducting imaging magnets, for $32 million in cash and assumed net debt.

Varian said the acquisition will include an opportunity for additional purchase price payments beyond the $32 million over the next three years, depending on Magnex achieving certain financial milestones.

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