Electronic sensor technology maker Teledyne Technologies (TDY) – Get Report on Monday agreed to buy thermal imaging technology and hardware provider FLIR Systems (FLIR) – Get report worth at a cash-and-stock deal approx. $ 8 billion.
Under the agreement, FLIR shareholders will receive $ 28 per share in cash and $ 0. 0718 one common share of Teledyne for each FLIR share for a total purchase price of $ 56 per FLIR share based on Teledyne’s 5-day volume-weighted average price as of Dec.. . 31.
The transaction reflects a 40% premium for FLIR shareholders based on FLIR’s 30-day volume-weighted average price as of Dec.. . 31, said the companies.
As part of the transaction, Teledyne has agreed an amount of $ 4. 5 billion, 364-day loan approval to fund the transaction and to refinance certain existing debt. Teledyne expects to have ongoing financing for the transaction prior to closing.
“Our two companies are centered around proprietary sensor technologies. Our business models are also similar: We supply our customers with sensors, cameras and sensor systems. However, our technologies and products are uniquely complementary with minimal overlap and have image sensors based on different semiconductor technologies for different wavelengths, « said Robert Mehrabian, Executive Chairman of Teledyne, in a statement.
Teledyne expects the acquisition to be effective immediately in the first full calendar year after the acquisition, excluding transaction costs and amortization of intangible assets.
The transaction, which has been approved by the boards of both companies, is expected to close in mid-2021, subject to the necessary regulatory approvals.
Sales of the Wilsonville, Oregon-based FLIR thermal imaging cameras have increased amid company concerns over the coronavirus pandemic. While the thermal imaging cameras cannot recognize or diagnose medical conditions, they can detect increased skin temperatures through non-contact temperature monitoring.
FLIR Systems, Teledyne Technologies, Teledyne, NASDAQ: FLIR, Stocks, Finance
World News – United States – Teledyne to acquire $ 8 billion in cash from FLIR systems
. . Related title :
– Teledyne to acquire Flir Systems in a cash-and-stock deal valued at around $ 8 billion
– Teledyne To Buy Rival Flir To Expand Defense Industry Sensor Offerings
– Teledyne Acquires $ 8 Billion FLIR Systems Cash-and-Stock Deal
– Teledyne buys FLIR systems for $ 8 billion, Augmenting Sensors
– Teledyne increases portfolio of image sensors by 8 billion. USD for FLIR Systems
– Teledyne buys sensor manufacturer Flir Systems for $ 7. 36b
– <a href = "/? S = Teledyne to buy FLIR systems for $ 8. 0 Bln Cash & Stock deal; Raise Q4, FY Profit Outlook Teledyne to Buy FLIR Systems in $ 8. 0 Bln Cash & Stock deal; Lifts Q4, FY Profit Outlook
– > Teledyne Technologies (TDY) to acquire FLIR systems (TDY) FLIR) for 8 billion US dollars
– Teledyne to purchase FLIR systems
– FLIR: Teledyne Technologies to buy FLIR systems for 8 billion. USD
Donnez votre point de vue et aboonez-vous!
Votre point de vue compte, donnez votre avis
[maxbutton id= »1″]