Industrial technology company Teledyne Technologies agreed to acquire thermal image technology company FLIR Systems.
In the cash-and-stock deal valued at approximately $8 billion, FLIR shareholders will receive $28 a share in cash and 0.0718 a share of Teledyne common stock for each FLIR share. The deal implies a 40% premium for FLIR stockholders based on FLIR’s 30-day volume weighted average price as of Dec. 31.
The transaction is expected to close in the middle of 2021, subject to regulatory approvals.