Teledyne to acquire Varex Imaging for $18.90/share in ~$1.1B all-cash deal

TELEDYNE TECHNOLOGIES INC

Teledyne to acquire all Varex shares for $18.90 cash/share; aggregate ~$1.1B incl. equity awards and net debt as of Apr 3, 2026.
Transaction unanimously approved by both boards; expected to close early 2027 subject to regulatory and Varex stockholder approval.
Varex's X-ray sources, detectors, and imaging software complement Teledyne's portfolio with minimal overlap, per CEO Robert Mehrabian.
Varex CEO Sunny Sanyal cites substantial premium for shareholders and growth opportunities for customers and employees.
Evercore advises Varex; Latham & Watkins and McGuireWoods advise Teledyne.

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