Oxford Instruments Takeover Talks End Over Ukraine War
- Negotiations collapse a week after Spectris announced them
- Spectris cites uncertainty generated by Russian invasion
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Spectris Plc, a U.K. maker of precision and test equipment, said it ended negotiations to buy Oxford Instruments Plc, a producer of microscopes and lab supplies, citing the economic uncertainty caused by the war in Ukraine.
Oxford Instruments shares fell as much as 21%. Spectris said Monday while it still sees a compelling rationale for the acquisition, market conditions mean the deal wouldn’t be in shareholders’ best interest.