Private equity firm Advent International has agreed to acquire UK-based Spectris, a maker of high-precision scientific instruments, in a deal worth £4.4bn ($5.9bn), the largest takeover in Britain so far this year, according to a report by Reuters.
The report cites the firms as announcing on Monday that under the terms of the deal, Spectris shareholders will receive £37.63 per share in cash, including an interim dividend of 28 pence.
Advent also confirmed that shareholders will receive the company’s final FY2024 dividend, with no reduction to the cash offer.
The board of Spectris, which has attracted buyout interest due to its relatively low valuation despite solid fundamentals, unanimously recommended the offer and plans to urge shareholders to vote in favour of the transaction.
