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Teledyne Announces Accelerated Share 1.1M Share Repurchase

Share:

Teledyne Technologies Incorporated (NYSE: TDY) 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

See full press release

Posted-In: News Buybacks Press Releases

 

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