Commenting on the recommended cash acquisition of Spirent Communications Plc (SPT.L,SPM) by Keysight Technologies, communication equipment firm Viavi Solutions (VIAV) said it would entrench Keysight's leading position in many product segments, leading to limited customer choice.
Viavi said: "Viavi believes that its acquisition represents certain value and notes its limited business overlap with Spirent relative to Keysight."
As announced on March 28, each Spirent shareholder will get 201.5 pence per share from Keysight, which includes 199 pence per share and a special dividend of 2.5 pence per share.
The acquisition values Spirent at around 1.16 billion pounds.
On March 5, Spirent had announced that Viavi Solutions, Viavi Solutions Acquisitions or Bidco, and Spirent have reached a deal on a recommended cash acquisition of Spirent by Bidco.
Each Spirent shareholder will receive 175 pence per share. This includes 172.5 pence in cash and a special dividend of 2.5 pence per share.
The acquisition price values Spirent at around 1.005 billion pounds.
Also, Silver Lake is making a $400 million long-term strategic investment in Viavi in connection with the acquisition. Ken Hao, Chairman and a Managing Partner of Silver Lake, will join the Viavi Board.
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