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Varex Imaging ( (VREX) ) just unveiled an update.
On August 10, 2026, Varex Imaging entered into a definitive merger agreement under which Teledyne Technologies will acquire all outstanding Varex shares for $18.90 in cash per share, valuing the deal at about $1.1 billion including equity awards and net debt. The transaction, unanimously approved by both boards, will see Varex become a wholly owned Teledyne subsidiary and its stock delisted from Nasdaq once the merger closes, which is anticipated in early 2027 subject to shareholder and regulatory approvals.
The agreement includes detailed cash treatment and accelerated vesting for options, restricted stock units and performance stock units, with Varex executives set to receive multimillion‑dollar payouts upon closing. Teledyne highlighted that Varex’s X‑ray tubes and advanced photon‑counting detectors complement Teledyne’s existing detector and vacuum electronics portfolio with minimal product overlap, positioning the combined group to expand in medical imaging and industrial inspection, while the absence of a financing condition and customary “no‑shop” and termination‑fee provisions provide deal certainty but limit Varex’s ability to pursue competing bids.
The most recent analyst rating on (VREX) stock is a Hold
with a $19.00 price target.
To see the full list of analyst forecasts on Varex Imaging stock,
see the VREX Stock Forecast page.
Spark’s Take on VREX Stock
According to Spark, TipRanks’ AI Analyst, VREX is a Neutral.
The score is held back primarily by weak financial quality in TTM (return to operating losses and negative free cash flow). Technicals are supportive but overbought, while valuation is constrained by a negative P/E. Earnings-call guidance and refinancing provide some support, but near-term growth/margin recovery and working-capital pressure temper the outlook.
To see Spark’s full report on VREX stock,
click here.
More about Varex Imaging
Varex Imaging Corporation is a leading innovator, designer and manufacturer of X‑ray imaging components, including X‑ray tubes, digital detectors and image processing solutions for medical and industrial systems. Headquartered in Salt Lake City, Utah, it supplies global OEMs in diagnostic imaging, non‑destructive testing, security screening and analysis markets, and employs about 2,400 people across North America, Europe and Asia.
Teledyne Technologies, based in Thousand Oaks, Calif., is a diversified provider of digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems, with operations primarily in the U.S., U.K., Canada and Western and Northern Europe. Teledyne already has a significant healthcare imaging footprint through prior acquisitions of Teledyne DALSA and Teledyne e2v, and serves many of the same OEM customers as Varex with complementary technologies.
Average Trading Volume: 430,993
Technical Sentiment Signal: Buy
Current Market Cap: $522.5M
For an in-depth examination of VREX stock, go to TipRanks’ Overview page.