Deals
KKR Seeks to End UK Rough Patch With Strong Bid for Spectris
Visitors at a viewing spot overlooking the Canary Wharf district in London.
Photographer: Chris Ratcliffe/BloombergKKR & Co. is seeking to end an uncharacteristically patchy run of dealmaking in the UK’s public markets by launching its biggest takeover bid of the year.
The US investment firm on Wednesday offered £4.1 billion ($5.6 billion) in cash for Spectris Plc, the British maker of precision testing equipment and software, topping a rival proposal from Advent. The price represents a 96.3% premium to Spectris stock on June 6 — the last trading day before Bloomberg News reported Advent was circling.