Teledyne Collects Remaining Shares of Ocean Design

Teledyne Instruments has acquired the remaining 11 percent of Ocean Design, Inc. (ODI) for approximately $19.6 million, net of stock option proceeds.

In August 2006, Teledyne Instruments initially purchased a majority stake in ODI for $30 million. Pursuant to agreements made in connection with the acquisition of the majority stake in ODI, the ODI minority stockholders had the contractual option to sell their shares to Teledyne Instruments following the end of each quarter through the quarter ended March 31, 2009, at a formula-determined price. Any shares not sold to Teledyne Instruments following the quarter ended March 31, 2009, were required to be purchased by Teledyne Instruments following the quarter ended June 30, 2009, at a same formula-determined price.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
Automation Engineering Manager
Expertise: Electrical Engineering|Engineering Manager
Location: Houston, TX
Rockies Regional Instrumentation & Electrical Operations Manager
Expertise: Business Development|Electrician|Operations Management
Location: Durango, CO
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours