Industrial Conglomerate

(Image: Teledyne FLIR)

Teledyne Acquires FLIR

Industrial conglomerate Teledyne Technologies Incorporated (NYSE:TDY) said it has completed its acquisition of thermal imaging cameras and sensors company FLIR Systems, Inc. (NASDAQ:FLIR). FLIR will now be included in Teledyne’s Digital Imaging segment and operate under the name Teledyne FLIR.Under the terms of the cash-and-stock deal announced in January, FLIR stockholders received $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, which implies a total purchase price of approximately $57.40 per FLIR share based on Teledyne’s closing price on May 13.

(File image: FLIR Systems)

Teledyne to Acquire FLIR Systems in $8 Billion Deal

Industrial conglomerate Teledyne Technologies Inc said on Monday it will acquire thermal imaging camera supplier FLIR Systems Inc in a $8 billion cash-and-stock deal to beef up its portfolio of imaging sensor technology.FLIR shareholders will receive $28 in cash and 0.0718 shares of Teledyne common stock for each share held, the companies said.That implies a purchase price of $56.14 based on Teledyne’s last close, and represents a premium of 28.1% for FLIR shareholders to the stock’s Thursday close.Teledyne and FLIR sell cameras and sensor systems.“Our technologies and products are uniquely co

Photo courtesy of Ferretti

Yacht Maker Ferretti Secures $176m in Capital Increase

Italy's Ferretti has signed three deals to increase its capital by a total of around 250 million euros ($276 million), the maker of luxury speedboats said on Tuesday, as it prepares for a potential stock listing on the Milan bourse later this year.Chinese industrial conglomerate Weichai, Ferretti's top shareholder, has agreed to convert a shareholder loan of around 212 million euros into an equivalent capital increase, the Italian group said in a statement.At the same time, billionaire Piero Ferrari, who already owns a minority stake in the shipbuilder, and financial investor Adtech Advanced T