Reported 2 days ago
Spectris, a British scientific instruments maker, has turned down a second acquisition proposal from KKR in favor of a $5 billion bid from Advent International. The company announced its approval of Advent's offer of 37.63 pounds per share, contingent on a formal proposal. KKR has until July 11 to submit a formal offer or withdraw. Spectris has become a prime acquisition target in the UK market, which has attracted foreign buyers due to lower valuations.
Source: YAHOO