Varian spin-offs begin trading

Varian Associates of Palo Alto, CA, this month finalized its restructuring into three independent public companies when it began trading shares in its instruments and semiconductor equipment firms. On April 2, Varian and Varian Semiconductor Equipment Associates commenced trading on NASDAQ. Varian Associates, which will be renamed Varian Medical Systems, continues to trade on the New York Stock Exchange. Varian’s board of directors proposed splitting the company in August of last year, and shareholders voted agreement in February (SCAN 3/3/99).

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