Deal Valued At $1.1 Billion Sends This X-Ray Stock Soaring 48%

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…