Teledyne has entered a definitive agreement to acquire all of the outstanding common shares of Varex for $18.90 per share payable in cash, representing an aggregate value for the transaction of approximately $1.1 billion.
The transaction was unanimously approved by the both companies' boards.
Varex specializes in the development of X-ray sources and digital X-ray detectors, and also provides high-voltage interconnects and imaging software to global OEM manufacturers. Varex’s X-ray tubes, flat panel and photon counting detectors, and connect and control accessories are used in medical diagnostic imaging, non-destructive inspection, security and vehicle inspection systems and analysis and measurement applications.
This transaction is anticipated to be completed in early 2027 and is subject to customary closing conditions, including regulatory approvals and Varex’s stockholder approval.
