Spectris Receives Possible Offer from Advent International
Why we think this is neutral
This RNS announcement is a response to media speculation regarding a possible offer for Spectris plc. It does not contain any specific financial or operational updates, but rather outlines the details of the proposal received from Advent International. As the outcome of the potential offer is still uncertain, a neutral sentiment is warranted at this stage.
Key Points
- Spectris received a conditional proposal from Advent International for a possible all-cash offer at £37.63 per share
- The proposal is subject to due diligence and agreement of definitive transaction documentation
- The Spectris Board has indicated it would be minded to recommend the offer to shareholders, if a firm intention to make an offer is announced
Summary
Spectris plc has received a conditional proposal from Advent International Limited, acting on behalf of certain private equity funds, regarding a possible all-cash offer for the entire issued and to be issued ordinary share capital of Spectris at £37.63 per share. The proposal is subject to satisfactory due diligence and agreement of definitive transaction documentation. The Board of Spectris has indicated it would be minded to recommend the offer to shareholders, should a firm intention to make an offer be announced on the proposed financial terms.