Agilent Gets OK From EU to Buy Varian - TheStreet

BRUSSELS (

TheStreet

) --

Agilent's

(A) - Get Report

acquisition of

Varian

(VARI)

has received approval from the European Commission but the companies were required to sell off certain assets to alleviate antitrust concerns.

Agilent will sell its entire micro/portable gas chromatography instrument business and Varian will divest itself of its laboratory gas chromatography, triple quadrupole gas chromatography-mass spectrometry and inductively coupled plasma-mass spectrometry instrument businesses, the EU said in a statement Thursday.

"After market testing the proposed commitments, the Commission concluded that they would remove the competition concerns identified and ensure that effective competition would not be impeded as a result of the proposed transaction," the EU said.

Agilent agreed to buy Varian

for $1.5 billion in July.

-- Reported by Joseph Woelfel in New York.

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