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LONDON - Keysight Technologies, Inc. (NYSE:KEYS) and Spirent Communications plc (LSE:SPT) announced Monday they have sought court approval to extend the deadline for their pending acquisition deal to October 27, 2025, as they await final regulatory clearance from Chinese authorities.
The companies are still waiting for approval from China’s State Administration for Market Regulation (SAMR) to complete the recommended cash acquisition of Spirent by Keysight, which was first announced on March 28, 2024. The acquisition is being implemented through a Court-sanctioned scheme of arrangement under UK law.
According to the announcement, Keysight believes SAMR’s review "is in its final stages" and expects to receive clearance "shortly." The companies had previously extended the long stop date from September 29 to October 27, with the consent of the UK Panel on Takeovers and Mergers.
A court hearing scheduled for September 16 will consider the application for this deadline extension. The companies stated they will announce the outcome of this hearing after it concludes.
The deal, which would see Keysight acquire the entire issued and to-be-issued ordinary share capital of Spirent, still requires satisfaction of remaining conditions outlined in the scheme document published in April 2024, including final court sanction.
Based on a press release statement, the companies continue to monitor the timeline closely as they work toward completing the transaction that has been in progress for over 17 months.
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