Teledyne Technologies Incorporated declared today the fruitful completion of the acquisition of FLIR Systems, Inc. At every one of the separate organization’s special meeting of stockholders hung on May 13, 2021, the stockholders approved and received merger proposals identified with the Agreement and Plan of Merger dated January 4, 2021. FLIR will presently be remembered for Teledyne’s Digital Imaging fragment and work under the name Teledyne FLIR.
Teledyne Takes Over FLIR Completely
Under the particulars of the agreement, FLIR stockholders got $28.00 per share in real money and 0.0718 shares of Teledyne regular stock for each FLIR share, which infers an absolute purchase price of roughly $57.40 per FLIR share dependent on Teledyne’s end price on May 13, 2021. The total thought for the transaction was around $8.2 billion, including net debt. Beforehand, Teledyne got all perpetual money financing for the transaction with a weighted normal getting cost of under two percent.
Teledyne anticipates that the acquisition should be promptly accretive to earnings, barring transaction costs and purchase price bookkeeping, and accretive to GAAP earnings in the main full schedule year following the acquisition. All the while, Teledyne declared the accompanying executive promotions, successful today. Edwin Roks, current Vice President of Teledyne and President of Teledyne’s Digital Imaging Segment, is presently Executive Vice President of Teledyne. Edwin will keep on filling in as President of Teledyne’s Digital Imaging Segment, which presently incorporates Teledyne FLIR. Moreover, Todd Booth is promoted to Senior Vice President and Chief Financial Officer for the procured Teledyne FLIR group of organizations.
Teledyne and FLIR recorded the vote results for their individual special meetings of stockholders on a Form 8-K with the U.S. Protections and Exchange Commission on May 13, 2021.