KKR to acquire Spectris for £4.8bn.

KKR, an American global private equity and investment company, agreed to acquire Spectris, a supplier of precision instrumentation and controls, for £4.8bn. The offer was selected over Advent's competing bid, which was ultimately withdrawn. "The Board of Spectris is pleased to recommend KKR's cash offer for Spectris which is a 6.3% increase to the Advent proposal and represents a premium of 96.3% to the undisturbed share price. This offer reflects the excellent work of the Spectris management team in recent years to transform Spectris into a focused, high quality, premium precision measurement business that is well positioned for the future. While we remain confident in the opportunities for the business, KKR's offer provides attractive and immediate cash value for shareholders and a compelling vision for the future of the Group that the Board believes will be to the benefit of our stakeholders," Mark Williamson, Spectris Chairman.