E2V Technologies says agrees on terms of Teledyne Tech offer

Reuters News
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Posted: Dec 12, 2016 3:04 AM

(Reuters) - Imaging sensor provider E2V Technologies Plc said on Monday that it had agreed on the terms of an all-cash takeover offer from U.S. firm Teledyne Technologies Inc.

The company, which makes sensors for cameras and radio frequency generators for various industries, said Teledyne offered 275 pence each per E2V share, a premium of 48 percent to the U.K.-based company's closing price on Friday.

E2V said Teledyne had received acceptances from about 45 percent of E2V shareholders, and said its board supported the offer.

(Reporting by Vidya L Nathan in Bengaluru; Editing by Biju Dwarakanath)