8-KOther EventsExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Corporate Update (Jan 22, 2010)

Filed January 22, 2010For Securities:A

Summary

Agilent Technologies, Inc. (Agilent) has received conditional antitrust clearance from the European Commission for its proposed acquisition of Varian, Inc. (Varian). This clearance, announced on January 21, 2010, is subject to significant divestitures by both companies to address competition concerns raised by the European Commission. Specifically, Agilent and Varian have committed to selling several key business segments. Varian will divest its laboratory gas chromatography (GC) business, its triple quadrupole gas chromatography-mass spectrometry (GC-MS triple quad) business, and its inductively-coupled plasma-mass spectrometry (ICP-MS) business. Agilent, in turn, will divest its micro gas chromatography (micro GC) business. These divestitures are crucial for the acquisition to proceed and aim to mitigate potential market concentration.

Key Highlights

  • 1European Commission grants conditional antitrust clearance for Agilent's acquisition of Varian, Inc.
  • 2Acquisition clearance is contingent upon divestitures by both Agilent and Varian.
  • 3Varian to divest its laboratory GC, triple quad GC-MS, and ICP-MS businesses.
  • 4Agilent to divest its micro GC business.
  • 5The divestiture plan is designed to address competition concerns in specific analytical instrument markets.
  • 6This filing serves as an update on the regulatory progress of the Varian acquisition.

Frequently Asked Questions

This 8-K filing announces that Agilent Technologies, Inc. has received conditional antitrust clearance from the European Commission for its proposed acquisition of Varian, Inc., and outlines the conditions for this clearance.

The European Commission requires both Agilent and Varian to divest specific business units. Varian must sell its laboratory gas chromatography (GC) business, its triple quadrupole gas chromatography-mass spectrometry (GC-MS triple quad) business, and its inductively-coupled plasma-mass spectrometry (ICP-MS) business. Agilent must sell its micro gas chromatography (micro GC) business.

The divestitures involve Varian's laboratory gas chromatography (GC), triple quadrupole gas chromatography-mass spectrometry (GC-MS triple quad), and inductively-coupled plasma-mass spectrometry (ICP-MS) businesses, as well as Agilent's micro gas chromatography (micro GC) business.

These divestitures will result in Agilent selling off its micro GC business and acquiring Varian's businesses in GC, GC-MS triple quad, and ICP-MS, subject to the divestiture of Varian's existing operations in these areas. The strategic rationale and financial impact will depend on the terms of the acquisition and the ultimate sale of the divested assets.