Teledyne Technologies Acquires Varex Imaging for $1.1 Billion in Cash

Teledyne Technologies Incorporated (TDY) entered a merger agreement on August 10, 2026, to acquire Varex Imaging Corporation (VREX) in a deal valued at $1.1 billion.

Deal Structure:

Varex stockholders will receive $18.9 per share payable in cash, representing a premium of 52.3% from the stock’s last close.

Company Profile:

Varex Imaging is a U.S.-based manufacturer of X-ray imaging components and systems for medical and industrial applications. Its products include X-ray tubes, digital detectors, imaging software, and other components used in diagnostic imaging, security, and industrial inspection.

Teledyne Technologies is a U.S.-based technology company that develops digital imaging products, instrumentation, aerospace and defense electronics, and engineered systems. Its products serve industrial, aerospace, defense, environmental, and scientific applications.

Deal Details and Timeline:

The deal is anticipated to be completed in early 2027.

Varex received financial advice from Evercore, with Orrick, Herrington & Sutcliffe serving as its legal advisor. Teledyne received legal counsel from Latham & Watkins and McGuireWoods.

Teledyne Technologies is paying 9.25 times Varex’s EBITDA.

Deal Metrics:

For a comprehensive understanding of this merger and acquisition transaction’s details, please refer to the Deal Metrics page at the following link:

Deal Metrics for the acquisition of Varex Imaging Corporation (VREX) by Teledyne Technologies Incorporated (TDY)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• A timeline of every event as the merger progresses, including the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings related to the deal.
• A history of deal updates.
• And a lot more intricate details.

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Editor’s Note: Baranjot Kaur contributed to this article