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The case for Teledyne Technologies paying $18.90 a share for Varex Imaging rests on portfolio logic that the companies have been building toward separately for years.
The complication: the all-cash deal, valued at roughly $1.1 billion including Varex's equity awards and net debt as of 3 April 2026, still requires regulatory approvals and a Varex stockholder vote, with closing targeted for no earlier than early 2027.
What Varex brings and what Teledyne is paying for Varex supplies X-ray sources and imaging software to original equipment manufacturers in medical diagnostic imaging and industrial markets, with a global workforce of around 2,400 employees across Asia, Europe, and North America.
Teledyne will pay $18.90 per share for all outstanding Varex common shares, a price both boards approved unanimously.
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