IN BRIEF: Spectris accepts higher Advent bid, pulls KKR recommendation

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Spectris PLC - London-based provider of high-tech instruments, test equipment and software - Accepts improved offer from Advent International LP worth £41 per share, comprising £40.72 in cash and a 28 pence dividend. New bid values Spectris share capital at around £4.2 billion and implies an enterprise value of £4.8 billion. As a result, Spectris withdraws recommendation of £40 per share bid from Kohlberg Kravis Roberts & Co. LP. For its part, KKR says it is ‘considering its position and a further announcement will be made when appropriate.’

Current stock price: 4,070.00 pence, up 2.0% in London on Friday

12-month change: up 37%

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