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UK's Spectris drops Advent offer in favour of KKR
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UK's Spectris drops Advent offer in favour of KKR
Aug 8, 2025 11:00 AM

Aug 8 (Reuters) - British scientific instruments maker

Spectris ( SEPJF ) said on Friday it had decided against

proceeding with U.S. private equity firm Advent's buyout

proposal, days after backing rival suitor KKR's $6.4

billion offer.

In June, a bidding war for Spectris ( SEPJF ) began with an initial

offer from Advent. After KKR entered the fray with its own bid,

the British company's board repeatedly changed its

recommendation between the two private equity firms.

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 London-headquartered company, on August 5, agreed to a

bid of 41.75 pounds per share from U.S. private equity firm KKR,

making it Britain's biggest takeover target of the year, just

four days after backing Advent's earlier bid of 40.72 pounds per

share.

Spectris ( SEPJF ) said that Advent has confirmed that it no longer

wishes to proceed with the final offer.

The shareholder meetings relating to the increased KKR Offer

will take place, as planned, on August 27, Spectris ( SEPJF ) added.

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