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Spectris PLC on Monday agreed to a £3.8 billion buyout from private equity firm Advent International, although a rival bid from Kohlberg Kravis Roberts & Co could yet emerge. Advent will pay £37.63 in cash per share for the provider of high-tech instruments, test equipment and software, an offer consideration that includes a 28 pence dividend. The bid values all Spectris equity at £3.8 billion and implies an enterprise value - including Spectris debt - of £4.4 billion. In response, shares in Spectris rose 15% to 3,772.00 pence in London on Monday morning. The bid from Advent is an 85% premium to the Spectris share price on June 6, the day before an approach from Advent was publicly revealed. The acquisition is expected to complete in the first quarter of 2026. Spectris Chair Mark Williamson said Advent’s offer represents ‘strong and immediate cash value for shareholders at an attractive premium.’ However, a rival bidder could yet emerge after KKR, the New York-based private equity firm, on Monday said it continues to engage ‘constructively’ with Spectris, although KKR said there ‘can be no certainty’ that any firm offer will be made. ‘Whilst no revised proposal has been made to the board of Spectris, KKR confirms that it is actively engaged in the advanced stages of due diligence and arranging financing commitments,’ it said in a statement. On June 13, Spectris announced it had rejected a bid approach from KKR. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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