Deals
Viavi Agrees to Buy UK’s Spirent at £1 Billion Valuation
- Viavi agrees to pay 172.5 pence per share in cash for Spirent
- Offer represents a 61% premium to Monday’s closing share
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Viavi Solutions Inc. has agreed to buy Spirent Communications Plc at 172.5 pence per share in cash in an offer that values the UK-based network testing company at £1 billion ($1.27 billion) on a fully diluted basis.
Viavi will also pay a special dividend of 2.5 pence per share, the communications equipment company said in a statement on Tuesday. The deal still has to be approved by Spirent’s shareholders.