Spectris Agrees GBP4.1 Billion Takeover Bid from KKR, Drops Advent Deal

03:33 AM EDT, 07/02/2025 (MT Newswires) -- KKR-backed Project Aurora Bidco agreed to acquire precision instrumentation and controls supplier Spectris (SXS.L) at a total valuation of 4.1 billion pounds sterling. Spectris shareholders will receive 39.72 pounds in cash and an interim dividend of 0.28 pound for each share, according to a Wednesday filing. The offer reflects a 6.3% premium to the takeover offer agreed with Advent on June 23. The target company's directors intend to unanimously recommend that shareholders vote in favor of the KKR scheme of arrangement. The directors also unanimously withdrew their earlier recommendation for the Advent offer. KKR expects the acquisition to be completed in the first quarter of 2026, subject to the satisfaction of requisite conditions.