Teledyne and Dalsa Complete Plan of Arrangement

Teledyne and Dalsa jointly announced today the successful completion of the previously announced plan of arrangement.  The Arrangement was completed following the approval of the Ontario Superior Court of Justice (Commercial List) and satisfaction of the various conditions precedent to the Arrangement. 

Dalsa received the requisite shareholder approvals for the Arrangement at the meeting of its shareholders held on February 10, 2011.  The Ontario Superior Court of Justice (Commercial List) granted a final order approving the Arrangement on February 11, 2011.  

Pursuant to the Arrangement, Teledyne acquired all of the issued and outstanding Dalsa shares for CAD $18.25 in cash for each. The aggregate value for the transaction is approximately CAD $337 million, taking into account Dalsa's stock options and net cash as of December 31, 2010.  In connection with the completion of the Arrangement, Dalsa Corporation was amalgamated, with the resulting entity now named Teledyne Dalsa, Inc.