Clifford Chance and Freshfields Bruckhaus Deringer are advising on a bridge loan for the recently announced takeover of Varian Medical Systems by Siemens Healthineers.

Siemens Healthineers, which spun off from German parent company Siemens in 2018, is set to acquire US rival Varian for $16.4 billion in what is one of the largest M&A deals of the year to date.