On Monday, Teledyne Technologies (NYSE: TDY) announced it has agreed on a deal to acquire FLIR Sytems (NASDAQ: FLIR) in a cash and stock transaction worth approximately $8 billion.
The deal will see FLIR stockholders receive $28 per share in cash and 0.0718 shares of Teledyne common stock for each share of FLIR.
The transaction represents a total purchase price of $56 per share and a 40% premium for FLIR shareholders based on Teledyne’s 5-day volume-weighted average price as of December 31st 2020.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Teledyne has arranged a $4.5 billion 364-day credit commitment to fund the transaction and refinance existing debt and expects to fund the transaction with permanent financing before closing.
“Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers. However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths,” commented Robert Mehrabian, Executive Chairman of Teledyne.
The news has seen FLIR shares kick-off 2021 on a high, currently trading at $52.19 after reaching initial highs of 19.07%. Teledyne shares have seen the opposite effect, falling over 7% to $363.32.
