Varex agrees to $18.90/share Teledyne acquisition; Q3 revenue +3.7% to $210.5M, net income $15.9M

Filed August 10, 2026 · Period ending July 3, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Definitive merger agreement signed August 10, 2026, with Teledyne Technologies for $18.90 cash per share; closing expected early 2027 subject to shareholder vote, antitrust clearance (U.S., China, other jurisdictions), and customary conditions. Varex may owe $25.3M termination fee under certain circumstances.

  Notes: Proposed Teledyne acquisition view on EDGAR →
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  Operating income swung from -$80.7M loss to $22.8M profit YoY, while net income reached $15.9M ($0.37 diluted EPS). Revenue rose 3.7% to $210.5M, though the prior-year quarter contained an extra week, making direct volume comparisons difficult.

  Key Financials / MD&A view on EDGAR →
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  Debt refinanced: redeemed all $368M of 7.875% Senior Secured Notes in March 2026 (paying 2% premium, $9.2M loss.

  Notes: Debt refinancing and extinguishment view on EDGAR →