Gold prices steady, holding sharp gains in wake of soft U.S. jobs data
LONDON - Spectris (LON:SXS) PLC, the productivity-enhancing instrumentation and controls company, has confirmed that it is in discussions with private equity firm Advent International regarding a potential acquisition offer. Following recent media speculation, Spectris revealed that it received a conditional proposal from Advent, suggesting a possible cash offer for the entire issued and to be issued ordinary share capital of Spectris at £37.63 per share.
The proposed offer includes a cash consideration of £37.35 per share, in addition to a proposed interim dividend of £0.28 per share, which is subject to board approval and aligns with the company’s ordinary course dividend schedule for the fiscal year 2025. Spectris’ board is currently considering the proposal and has granted Advent access to due diligence to confirm the offer’s details.
Advent’s proposal follows several previous approaches and is contingent upon various customary pre-conditions, including the completion of satisfactory due diligence and the agreement of definitive transaction documentation. The Spectris board has indicated that if a firm intention to make an offer is announced with these financial terms, it would be inclined to recommend the proposal to its shareholders unanimously.
Under the UK City Code on Takeovers and Mergers, Advent has until 5:00 p.m. on July 7, 2025, to either announce a definitive intention to make an offer for Spectris or to declare that it does not intend to make an offer. This deadline may be extended with the consent of the Takeover Panel.
Advent reserves the right to waive any pre-conditions, adjust the offer value, vary the form of consideration, or make an offer at a lower value or on less favorable terms under certain conditions, including with the agreement of the Spectris board or in response to a competing offer.
The announcement, made with Advent’s approval, contains inside information and follows the regulations set by the City Code on Takeovers and Mergers. It is important to note that there is no certainty that an offer will be made, and the discussions may not result in a transaction.
This report is based on a press release statement and aims to provide shareholders and the market with transparent and factual information regarding the potential acquisition.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.