UK's Spectris accepts sweetened KKR takeover bid worth £4.8 billion
British scientific instruments maker Spectris (SXS.L) has agreed to a sweetened takeover offer from U.S. private equity giant KKR (KKR.N), valuing the company at £4.8 billion ($6.4 billion). The decision ends its support for a lower bid from rival suitor Advent International.
The new deal, announced Tuesday, prices Spectris shares at £41.75 each, surpassing Advent's £41.00 per share offer made just four days earlier, News.Az reports, citing Reuters.
The takeover battle between KKR and Advent has unfolded over the past month, following Spectris’ acceptance of Advent’s initial proposal in June. That bid followed a prolonged decline in Spectris' share price, which had fallen nearly 50% from its 2021 peak.
Spectris’ shares rose 1.4% in early trading after news of the revised agreement broke.
The Spectris deal underscores growing international interest in undervalued UK assets, driven by relatively low valuations and political stability. Overseas buyers have launched a flurry of acquisitions in recent months across multiple sectors.
The KKR offer values Spectris’ equity at £4.2 billion, with an enterprise value of £4.8 billion, including debt.
Despite challenges earlier this year—such as U.S. tariffs that dampened global dealmaking—the market has seen a strong rebound. According to Dealogic, global M&A activity in the first seven months of 2025 reached $2.6 trillion, the highest for the period since the post-pandemic peak in 2021.
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