India, Aug. 10 -- Varex Imaging Corporation (VREX) and Teledyne Technologies Inc. (TDY) on Monday announced that they have entered into a definitive agreement under which Teledyne will acquire all outstanding shares of Varex for $18.90 per share, payable in cash, for an aggregate value of approximately $1.1 billion.
Separately, Varex announced financial results for the third quarter, reporting net income compared with a net loss a year ago.
Following the news, VREX surged 48.47% to $18.42.
Varex Teledyne Deal
Varex manufactures X-ray imaging components, including X-ray tubes, digital detectors, and image-processing solutions, as well as X-ray imaging systems for industrial applications.
Teledyne Technologies is a provider of sophistica...