Investigation announced for Investors in FLIR Systems, Inc. (NASDAQ: FLIR) over Takeover

An investigation was announced concerning whether the takeover of FLIR Systems, Inc is unfair to NASDAQ: FLIR stockholders.

Investors who purchased shares of FLIR Systems, Inc. (NASDAQ: FLIR) and currently hold any of those NASDAQ: FLIR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of FLIR Systems breached their fiduciary duties owed to NASDAQ: FLIR investors in connection with the proposed acquisition.

Wilsonville, OR Based FLIR Systems, Inc. designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide.

On January 4, 2021, Teledyne Technologies Incorporated (NYSE: TDY) and FLIR Systems, Inc. (NASDAQ: FLIR) jointly announced that they have entered into an agreement under which Teledyne Technologies Incorporated will acquire FLIR Systems, Inc in a cash and stock transaction valued at approximately $8.0 billion.
Under the terms of the agreement, FLIR Systems, Inc stockholders will receive $28.00 per share in cash and 0.0718 shares of Teledyne Technologies Incorporated common stock for each FLIR Systems, Inc share, which implies a total purchase price of $56.00 per FLIR Systems, Inc share based on Teledyne’s 5-day volume weighted average price as of December 31, 2020.

However, given that NASDAQ: FLIR shares reached as high as $59.44 per share, the investigation concerns whether the offer is unfair to FLIR Systems, Inc. (NASDAQ: FLIR stockholders. More specifically, the investigation concerns whether the FLIR Systems, Inc. (NASDAQ: FLIR Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

FLIR Systems, Inc. reported that its annual Total Revenue rose from over $1.77 billion in 2018 to over $1.88 billion in 2019.

Shares of FLIR Systems, Inc. (NASDAQ: FLIR) closed on February 8, 2021, at $54.58 per share.

Those who are current investors in FLIR Systems, Inc. (NASDAQ: FLIR) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.