SOURCE: Levi & Korsinsky, LLP

August 05, 2009 16:31 ET

Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Varian, Inc. -- VARI

NEW YORK, NY--(Marketwire - August 5, 2009) - Levi & Korsinsky announces that a class action lawsuit has been filed in California State Court challenging the proposed acquisition of Varian, Inc. ("Varian" or the "Company") (NASDAQ: VARI).

The Complaint arises out of the announcement by Varian stating that it had entered into a definitive merger agreement with Agilent Technologies Inc. (NYSE: A). Under the proposed agreement, Varian shareholders will receive $52.00 in cash for each share of Varian they own for a total transaction value of approximately $1.5 billion. The transaction appears unfair given that Varian shares traded close to $70.00 per share in 2008. In addition, the Varian Board agreed to a no-solicitation provision and a $46 million termination fee that will all but ensure that no superior offer will ever be forthcoming.

The companies expect to consummate the transaction before the end of 2009, subject to customary closing conditions, including all necessary regulatory and stockholder approvals.

If you own common stock in Varian and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/vari1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street -- 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Fax: (212) 363-7171
    www.zlk.com