Filing Flows › Teleflex (TFX) › Takeover & LBO
Is Teleflex (TFX) a takeover target?
A leveraged buyout at today's price plus 30% ($181.70 a share) would return about 4% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $101.49 a share (−27% against today's $139.77). Historically 6.2% of companies with its figures were bought within a year (1.23× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $181.70 | today's $139.77 plus 30% |
| × shares | 41.6 million | |
| = Equity value | $7.6B | |
| + Debt refinanced | $1.6B | |
| − Cash | $430M | |
| = Enterprise value | $8.8B | 20.8× EBITDA of $421M |
| Fees | $175M | 2% of the price |
| New debt | $2.3B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $6.6B | 74% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $2.4B | $455M | $177M | $164M | $2.2B |
| Year 2 | $2.6B | $485M | $165M | $197M | $2.0B |
| Year 3 | $2.7B | $512M | $150M | $229M | $1.7B |
| Year 4 | $2.9B | $534M | $132M | $261M | $1.5B |
| Year 5 | $2.9B | $550M | $112M | $291M | $1.2B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 16.6× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $9.2B | |
| − Debt left | $1.2B | |
| = Buyer's equity | $8.0B | |
| Money multiple | 1.21× | on $6.6B put in |
| Buyer's yearly return (IRR) | 3.8% |
Price against return
What the buyer makes at other premiums over today's $139.77; the IRR reaches 20% at $101.49 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $153.75 | 8.0% |
| 20% | $167.72 | 5.8% |
| 30% | $181.70 | 3.8% |
| 40% | $195.68 | 2.1% |
| 50% | $209.66 | 0.5% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $2.3B | |
| EBITDA, last 12 months | $421M | 18.7% of revenue |
| Depreciation and amortization | $209M | |
| Capital spending | $78.3M | |
| Debt | $1.6B | |
| Cash | $430M | |
| Share price | $139.77 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 22% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Teleflex would cost about $188.69 a share, $7.9B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $170.52 | $7.1B |
| Median | 35% | $188.69 | $7.9B |
| High end (a quarter paid more) | 45% | $202.67 | $8.4B |
The odds, from history
Historically 6.2% of companies with its figures were bought within a year (1.23× the average). Its figures put it in decile 8 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Teleflex's latest quarter
Teleflex, Q3 2026: revenue $568M (+0.1% year over year), operating margin 18.6%, net earnings $927M, operating cash flow $96.3M. The chart follows the revenue to costs, profit and cash.
Questions
Is Teleflex being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Teleflex?
A leveraged buyout at today's price plus 30% ($181.70 a share) would return about 4% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $101.49 a share (−27% against today's $139.77).
What would a takeover of Teleflex cost?
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Teleflex would cost about $188.69 a share, $7.9B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.