LONDON, Aug 5 (Reuters) -
British scientific instruments maker Spectris ( SEPJF ) has
agreed to a sweetened offer from U.S. private equity firm KKR
valuing it at 4.8 billion pounds ($6.4 billion), it said
on Tuesday, withdrawing its backing for a lower offer from rival
suitor Advent.
The London-headquartered company said it had agreed to a
41.75 pound per share deal with KKR just four days after backing
a bid from Advent at 41 pound per share.
The two private equity firms have been vying for control
of the company for over a month after Spectris ( SEPJF ) agreed to an
initial offer from Advent in June.
Britain's subdued valuations and relative stability have
attracted overseas buyers, with a flurry of bids in recent
months highlighting appetite for UK assets.
The KKR offer values Spectris' ( SEPJF ) equity at 4.2 billion
pounds, with an enterprise value of 4.8 billion pounds.
($1 = 0.7528 pounds)