Teledyne to Buy Water Quality Company Isco

Defense contractor Teledyne Technologies Inc. (TDY) plans to buy Isco Inc. (ISKO), a maker of water quality monitoring products, for about $80 million, the companies said on Thursday.

Under the deal, Teledyne would pay $16 a share in cash for all of the outstanding shares of Isco, a premium of about 32 percent over Isco's closing price of $12.10 a share on Wednesday on the Nasdaq.