Teledyne Technologies (TDY) Enters $100M Accelerated Share Repurchase Plan

Teledyne Technologies Incorporated (NYSE: TDY) entered into an accelerated share repurchase agreement with a financial institution to repurchase 1,030,000 shares of Teledyne’s common stock, pursuant to the company’s previously announced share repurchase program. The estimated value of the accelerated repurchase transaction is approximately $100 million.

Under Teledyne's 2,500,000 share stock repurchase program authorized in October 2011, Teledyne repurchased 1,124,852 shares for approximately $80 million through August 31, 2014.

“The accelerated share repurchase demonstrates our commitment to deliver value to our stockholders,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “While we are increasing our share repurchases, we continue to focus on balanced and disciplined capital deployment among capital expenditures, acquisitions and share repurchases.”

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