Teledyne Announces Accelerated Share 1.1M Share Repurchase

Teledyne Technologies Incorporated

today announced that it has entered into an accelerated share repurchase agreement with a financial institution to repurchase 1,100,000 shares of Teledyne's common stock, pursuant to the company's 2,500,000 share repurchase program authorized on January 27, 2015. The estimated value of the accelerated repurchase transaction is approximately $100 million. Under the agreement, Teledyne will immediately purchase shares from a financial institution, which will purchase an equivalent number of shares on the open market over the term of the transaction. Teledyne may receive, or be required to remit, a price adjustment based on a volume weighted average price of Teledyne's common stock. This accelerated repurchase transaction is subject to customary