KKR Fans Bidding War For Spectris With £4.2 Billion Offer

KKR & Co. raised its offer for British precision testing company Spectris Plc to £4.2 billion ($5.6 billion) in an ongoing bidding war with rival private equity firm Advent.

The offer is equivalent to £41.75 per share including £41.47 in cash and a 28 pence-per-share dividend, KKR said in a statement on Tuesday. Including debt, it values the company at £4.8 billion.