TDY - Why FLIR Systems Stock Popped 19% Today
FLIR Systems (NASDAQ: FLIR) announced Monday morning that it is being acquired by industrial instruments and software company Teledyne Technologies (NYSE: TDY) in a transaction valued at about $8 billion. Shares of FLIR were up by around 19% as of 11:10 a.m. EST.
FLIR is a maker of thermal imaging cameras as well as defense and industrial threat-detection sensor equipment.
The cash and stock deal would value FLIR at $56 per share, representing a 28% premium above FLIR's closing price on Dec. 31, 2020. The premium is also 40% above the 30-day volume-weighted average shares price as of Dec. 31.
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Why FLIR Systems Stock Popped 19% Today