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Varian Associates Votes to Reorganize

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Varian Associates Inc. is reorganizing into three separate companies. The Palo Alto, Calif.-based manufacturer has units in analytical and research instruments, semiconductor equipment and health care systems. Noting that there is no longer a material synergy among the business units, Chairman J. Tracy O'Rourke explained the reorganization as a response to the company's discounted share price. Varian's stock has been trading below the level of other companies in all three of its core businesses. Investors will receive shares in the new companies commensurate with their holdings. Shareholder...Read full article

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    Published: November 1998
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