MI Metron UK Bidco Ltd, an indirect subsidiary of funds managed or advised by Advent International, L.P., announced a recommended cash acquisition of Spectris plc (SEPJF.PK,SXS.L).
Both the boards of MI Metron UK Bidco and Spectris have agreed to the terms of the acquisition, which involves Bidco acquiring the entire issued and to be issued share capital of Spectris for cash.
As per the terms of the Acquisition, each Spectris shareholder will be entitled to receive 37.63 pounds in cash for each Spectris share held. This comprises 37.35 pounds in cash from MI Metron UK Bidco Ltd and an interim dividend of 28 pence, which is subject to approval by the Spectris Directors and payable in line with the company's fiscal year 2025 dividend calendar.
The offer value represents a premium of approximately 84.6 percent to the closing price of 20.38 pounds per Spectris Share on 6 June 2025. The offer values the entire issued and to be issued share capital of Spectris at approximately 3.8 billion pounds and implies an enterprise value of approximately 4.4 billion pounds.
The acquisition is expected to complete in or by the first quarter of 2026.
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