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Teledyne Agrees To Buy X-Ray Company. Varex Stock Soars 48%

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Varex Imaging (VREX) soared over 48% after Teledyne Technologies (TDY) announced it will acquire the X-Ray company in a deal valued at about $1.1 billion. Teledyne shares edged higher, rising within a buy zone. Teledyne, part of IBD’s aerospace and defense industry group, agreed to pay $18.90 per share in cash, a premium of 52% from Varex’s closing price on…

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