Private equity firm Advent will acquire Britain’s Spectris in a deal valued at 4.4 billion pounds ($5.91 billion), including debt, the companies said on Monday.
Spectris, which makes scientific instruments, was the largest takeover target in Britain this year due to its relatively cheap valuation.
As part of the deal, each Spectris shareholder will receive 37.63 pounds per share in cash, including an interim dividend of 28 pence.
Advent said each Spectris shareholder will receive the final dividend for fiscal 2024 with no reduction to the cash offer per share.
Spectris intends to unanimously recommend that its shareholders vote in favour of the deal, the company said.
Source: Economic Times