The Spectris industrial group agreed to an acquisition of Kohlberg Kravis Roberts (KKR) for a value of more than 4 billion after the private capital giant rival Bidder Advent International.
Spectris has given its support to the £ 40 cash offer, which values the FTSE 250 company in around £ 4.1 billion, or £ 4.7 billion, including debts.
Triauncia the agreement of £ 37.63-A-compart that he had previously agreed with the US investment firm Advent, which valued the company at approximately £ 3.8 billion, seeing that Spectris withdrew its recommendation for the supply of Advent.
The agreement for Spectris marks the latest in a long line of companies that quote in London that leave the market after a recent gust of companies that defend the city for rival exchanges abroad or buy.
Spectris, a precision measurement instrument manufacturer for companies such as those of the pharmaceutical and semiconductor sectors, is based in London and employs about 7,400 people in more than 30 countries.
He obtained underlying profits of £ 203 million last year in sales of £ 1.3 billion.
Mark Williamson, president of Spectris, said: “This offer reflects the excellent work of the Spectris management team in recent years to transform Spectris into a high quality, high quality and high quality precision measurement business that is well positioned for the future.
“While we are still sure of business opportunities, KKR's offer provides an attractive and immediate cash value for shareholders and a convincing vision for the future of the group.”
Joshua Weisenbeck, KKR's partner, added: “Spectris is an impressive industrial technology business that serves attractive final markets such as life sciences, industrial automation, aerospace and defense, academia and more.
“We believe there is an excellent adjustment in terms of our respective values, with a strong approach to its talented employees and support communities in which it operates.”
Kkr approached Spectris for the first time on June 2. He said he had no plans for large -scale job cuts after the agreement, saying that “it does not intend to make any material reduction to personnel or no material change to employment conditions or the balance of skills and functions of employees or administration of the Spectris group.”
But he said that this does not include measures under the ongoing review of Spectris, under which its objective is to obtain savings of at least £ 30 million in 2025, most of which will come in the last six months of the year.
