
Micropac Industries, Inc.
Teledyne Technologies Incorporated and Micropac Industries, Inc. announced the successful completion of the previously announced merger of Micropac with a wholly-owned subsidiary of Teledyne.
Under the terms of the merger agreement, Micropac stockholders received $20.00 per share in cash without interest and subject to required withholding taxes. The all-cash transaction valued Micropac at approximately $57.3 million, considering Micropac’s net debt as of August 24, 2024.
“We're delighted to welcome Micropac and its employees to the Teledyne family,” says Robert Mehrabian, Executive Chairman of Teledyne.
“Likewise, Micropac is proud to join Teledyne, and we look forward to leveraging Teledyne’s additional market reach and technical capabilities, while maintaining the Micropac name and continuing to operate from our new state-of-the-art facility in Garland, Texas,” says Mark King, Chairman, President and Chief Executive Officer of Micropac.
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