Teledyne Plans $291M LeCroy Corp. Takeover

Law360, New York (May 29, 2012, 1:38 PM EDT) -- Teledyne Technologies Inc. will pick up LeCroy Corp. in a $291 million deal that will broaden the array of products Teledyne offers to the defense industry, the companies said Tuesday.

The $14.30 per-share buyout price offered to LeCroy investors represents roughly a 56 percent premium over Friday's closing price. After the merger announcement, LeCroy's stock prices shot up more than 50 percent, past $14, Tuesday morning.

Both companies' boards have unanimously approved the terms of the proposed transaction, which would transfer LeCroy's stock and debt. The...
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