Teledyne Technologies to buy FLIR Systems in $8 billion deal
(Reuters) -Industrial conglomerate Teledyne Technologies Inc said on Monday it will acquire thermal imaging camera supplier FLIR Systems Inc in a $8 billion cash-and-stock deal.
FLIR shareholders will receive $28 in cash and 0.0718 shares of Teledyne common stock for each share held, the companies said.
That implies a purchase price of $56.14 based on Teledyne’s last close, and represents a premium of 28.1% for FLIR shareholders to the stock’s Thursday close.
FLIR shares jumped 25.4% to $54.39 in premarket trading on Monday.
Reporting by Munsif Vengattil; Editing by Shinjini Ganguli
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