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
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
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