VOLUME ALERT: Varian Inc. (VARI, A)

Varian Inc. (Nasdaq: VARI) shares are up nearly 30 percent to $50.78 on volume of 3 million shares, about 10 times average, as of 11:15 a.m. The company has signed an agreement to be acquired by Agilent Technologies Inc. (NYSE: A) for $52 cash a share, about a 35 percent premium. The deal is expected to generate $75 million in annual cost synergies. Both boards have approved the deal. — Mike Tarsala