Advent Agrees to Acquire UK’s Spectris in £3.8 Billion Deal

A consortium led by buyout firm Advent reached an agreement to buy Spectris Plc, a UK maker of precision and testing equipment and software, for about £3.8 billion ($5.1 billion).

Advent is offering £37.63 in cash, including a proposed interim dividend of £0.28 per share, according to a statement on Monday. The bid is unchanged from Advent’s preliminary proposal announced earlier this month and represents a 85% premium to Spectris’s closing price on June 6, the last trading day before Bloomberg News first revealed Advent’s interest.