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DALSA Shareholder Approval Obtained for Plan of Arrangement with Teledyne

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DALSA Shareholder Approval Obtained for Plan of Arrangement with Teledyne Powered By Docstoc
					DALSA Shareholder Approval Obtained for Plan
of Arrangement with Teledyne
February 10, 2011 04:08 PM Eastern Time  

THOUSAND OAKS, Calif. & WATERLOO, Ontario--(EON: Enhanced Online News)--Teledyne Technologies
Incorporated (NYSE: TDY) (“Teledyne”) and DALSA Corporation (TSX: DSA) (“DALSA”) jointly announced
today that at a Special Meeting of the Shareholders (the “Meeting”) held earlier today, DALSA received the
requisite shareholder approvals for the plan of arrangement (the “Arrangement”) pursuant to which Teledyne will
acquire all the issued and outstanding common shares of DALSA. Over 87.5% of DALSA’s shareholders were
represented in person or by proxy at the Meeting, and over 99.9% of the securities voted at the Meeting were voted
in favor of the special resolution approving the Arrangement.

Under the Arrangement, DALSA shareholders will receive CAD $18.25 in cash for each outstanding DALSA
common share. 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. The acquisition has been approved by the boards
of directors of both companies, and the transaction received early termination of the waiting period required under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

DALSA’s application to the Ontario Superior Court of Justice (Commercial List) to obtain the final order approving
the Arrangement is scheduled for Friday, February 11, 2011. Assuming court approval is obtained and that all other
conditions to the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about
February 12, 2011. Delisting of DALSA’s common shares from the Toronto Stock Exchange is expected to occur
on or about February 17, 2011.

Full details of the Arrangement and certain other matters are set out in the management information circular of
DALSA (the “Information Circular”) dated January 5, 2011. A copy of the definitive agreement, Information
Circular, and other meeting materials can be found on the SEDAR website at www.sedar.com.

About Teledyne Technologies

Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and
communication products, engineered systems, aerospace engines, and energy and power generation systems.
Teledyne Technologies’ operations are primarily located in the United States, the United Kingdom and Mexico. For
more information, visit Teledyne Technologies’ website at www.teledyne.com.

About DALSA Corporation

DALSA Corporation is an international leader in high performance digital imaging and semiconductors with
approximately 1,000 employees worldwide, headquartered in Waterloo, Ontario, Canada. Established in 1980, the
company designs, develops, manufactures and markets digital imaging products and solutions, in addition to
providing MEMS products and services. For more information, visit DALSA’s website at www.dalsa.com.

Forward-Looking Information Cautionary Notice

This announcement contains forward-looking information within the meaning of applicable Canadian securities laws
and is intended to qualify for the safe harbor from liability under the United States Private Securities Litigation
Reform Act of 1995, with respect to management’s beliefs about the financial condition, results of operations and
businesses of Teledyne and DALSA in the future. Forward-looking information involves risks and uncertainties, is
based on the current expectations of the management of DALSA and Teledyne and is subject to uncertainty and
changes in circumstances. The forward-looking information contained herein may include statements about the
expected effects on Teledyne of the transaction, the anticipated timing and scope of the transaction, expected timing
of the completion of the transaction and all other statements in this announcement other than historical facts.
Forward-looking information includes, without limitation, statements typically containing words such as “intends”,
“expects”, “anticipates”, “targets”, “estimates” and words of similar import. By its nature, forward-looking
information is not a guarantee of future performance or results and involves risks and uncertainties because it relates
to events and depends on circumstances that will occur in the future. Actual results could differ materially from this
forward-looking information. Many factors could change anticipated results, including unanticipated issues associated
with the satisfaction of the conditions to the transaction, issues associated with obtaining necessary regulatory
approvals, including Court approval of the Arrangement, and the terms and conditions of such approvals. There are
additional risks associated with owning and operating businesses internationally, including those arising from U.S. and
foreign policy changes or actions and exchange rate fluctuations. Neither Teledyne nor DALSA undertake any
obligation to publicly update or revise any forward-looking information, whether as a result of new information,
future events or otherwise.

Contacts
Investor Contact:
Teledyne Technologies
Jason VanWees, 805-373-4542
or
Investor Contact:
DALSA Corporation
Patrick Myles, 519-886-6001 x2177

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Description: THOUSAND OAKS, Calif. & WATERLOO, Ontario--(EON: Enhanced Online News)--Teledyne Technologies Incorporated (NYSE: TDY) (“Teledyne”) and DALSA Corporation (TSX: DSA) (“DALSA”) jointly announced today that at a Special Meeting of the Shareholders (the “Meeting”) held earlier today, DALSA received the requisite shareholder approvals for the plan of arrangement (the “Arrangement”) pursuant to which Teledyne will acquire all the issued and outstanding common shares of DALSA. Over 87.5% of DALSA’s sha a styl
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