Teledyne Completes Acquisition of Flir
Teledyne Technologies Inc. has completed its acquisition of
Flir Systems Inc., a commercial company specializing in the design and production of thermal imaging cameras, components and imaging sensors. Flir will now be included in Teledyne’s digital imaging segment and operate under the name Teledyne Flir.
Under the terms of the agreement, Flir stockholders received $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share. The aggregate consideration for the transaction was approximately $8.2 billion, including net debt. Previously, Teledyne secured all permanent cash financing for the transaction with a weighted average borrowing cost of less than two percent.