Philips to acquire Intermagnetics for $1.3B

Philips has strengthened its position in the Magnetic Resonance Imaging (MRI) market with the purchase of Intermagnetics in a deal valued at $1.3 billion. The Dutch electronics giant paid $27 a share for the New York-based maker of supercomputing magnets used in medical imaging, a premium of 29 percent over the current share price.

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