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Teledyne, FLIR Schedule Meeting Date for Merger.

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Vincent

MANews-(C)2009-2021

US-based electronics components manufacturer Teledyne Technologies Inc. (NYSE: TDY) and US-based technology company FLIR Systems, Inc. (NASDAQ: FLIR) have scheduled May 13 shareholder votes to approve Teledyne's pending acquisition of FLIR, the companies said.

In January, Teledyne agreed to acquire FLIR in a transaction valued at approximately USD 8bn.

Also, the US Securities and Exchange Commission has declared effective the form S-4 Registration Statement concerning the pending acquisition of FLIR Systems, Inc. (NASDAQ: FLIR).

Teledyne also said that it has received antitrust clearance for the pending acquisition from regulatory authorities in Poland and South Korea.

On Wednesday, April 7, 2021, Teledyne received a consent letter regarding the proposed acquisition from the president of the Office of Competition and Consumer Protection of Poland. Today, Teledyne received an unconditional clearance letter from the Korea Fair Trade Commission.

Previously, Teledyne received a clearance letter from the Federal Cartel Office of Germany on April 1, 2021.

On March 31, 2021, Teledyne received a No-Action Letter regarding the proposed acquisition from the Competition Bureau of the government of Canada. Teledyne obtained antitrust clearance in the US on March 1, 2021, when termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 occurred.

Subject to the receipt of additional required regulatory approvals in Turkey and China, the transaction is expected to close in the second quarter of 2021.

In addition, all permanent financing for the pending acquisition was completed on March 22, 2021.

Financing consisted of USD 3.00 bn of investment-grade bonds due 2023 through 2031, as well as a USD 1bn Term Loan Credit Agreement and an Amended and Resaid Credit Agreement with capacity of USD 1.15bn both maturing in 2026.

Under the terms of the agreement, FLIR stockholders will receive USD 28.00 per share in cash and 0.0718 shares of...

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