US private equity giant KKR has agreed to acquire UK-listed scientific instruments maker Spectris in a deal worth approximately £4.7bn ($6.5bn), including debt, after outbidding rival suitor Advent International, according to a report by Reuters.
The transaction, which values Spectris at £40 per share including dividends, represents a 6.3% premium to Advent’s prior offer of £37.63 and now stands as the largest UK public takeover announced in 2025 to date.
The board of Spectris has formally withdrawn its previous recommendation of Advent’s £4.4bn bid and unanimously endorsed the superior proposal from KKR, highlighting the US firm’s persistent pursuit of the London-listed target. KKR had made two earlier unsolicited approaches.
The acquisition adds to a growing list of UK public companies being taken private by overseas buyers amid deep valuation discounts, subdued IPO activity, and waning investor appetite on the London Stock Exchange.
Spectris, a FTSE 250 constituent, is a leader in high-precision measurement and control instruments, supplying technology to industries spanning life sciences, pharmaceuticals, electronics, and manufacturing.
