Mergers & Acquisitions ·
Varex files supplemental disclosures to address stockholder litigation over Teledyne $18.90 per share merger
VREXVarex Imaging Corp
Varex Imaging filed an 8-K providing supplemental disclosures to its definitive proxy statement regarding the proposed acquisition by Teledyne Technologies for $18.90 per share in cash. The filing addresses two complaints and thirteen demand letters from stockholders alleging disclosure deficiencies in the proxy statement related to the merger process, including discussions with other potential bidders like Sponsor A and Sponsor B. To mitigate litigation risks without admitting liability, Varex supplemented information on regulatory approval timelines, specifically noting HSR Act expiration on November 19, 2026, and NSIA review until November 18, 2026. The company also clarified details regarding prior negotiations with other parties and Evercore's financial fairness opinion. Varex Imaging is a designer and manufacturer of x-ray detectors and imaging systems for the medical and industrial sectors.