06:30 AM EDT, 07/02/2025 (MT Newswires) -- KKR (KKR)'s takeover offer for British scientific instruments maker Spectris, valuing the company at 4.7 billion pounds ($6.44 billion), has been accepted, the latter said Wednesday.

KKR tabled a bid last week for Spectris at 40 pounds per share, higher than rival Advent's 37.63 pounds per share offer.

Subsequently, Spectris said its board has decided to withdraw its recommendation to accept Advent's offer in favor of the higher bid from KKR.

KKR previously made two takeover proposals for the London-listed firm, which were rejected.

In the latest offer, Spectris shareholders will receive 39.72 pounds per share in cash from KKR and an interim dividend of 28 pence. The acquisition is expected to be completed by Q1 of 2026.

Advent, which already raised its bid several times, still has the right to increase its offer, according to Reuters.