Finance
UK's Spectris drops Advent offer in favour of KKR
Published by Global Banking & Finance Review®
Posted on August 8, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 8, 2025
2 min readLast updated: January 22, 2026
Spectris has chosen KKR's $6.4 billion offer over Advent's proposal, marking a significant UK acquisition. Shareholder meetings are scheduled for August 27.
(Reuters) -British scientific instruments maker Spectris 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 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 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 added.
(Reporting by Prerna Bedi and Shanima A in Bengaluru; Editing by Alan Barona)
Private equity refers to investment funds that buy and restructure companies that are not publicly traded. These funds typically aim to improve the company's performance and eventually sell it for a profit.
A buyout occurs when an investor or group of investors purchases a controlling interest in a company. This can involve acquiring all or a majority of the company's shares.
Valuations are estimates of a company's worth, often determined through various financial metrics and analysis. They are crucial in investment decisions, mergers, and acquisitions.
A bidding war happens when two or more parties compete to acquire a company, often driving up the price as they make higher offers to win over the target company's shareholders.
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