Keysight outbids VIAVI Solutions for Spirent Communications
Image: Keysight logo
Keysight Technologies has outbid VIAVI Solutions for the acquisition of Spirent Communications, according to Bloomberg News.
The deal proposed by Keysight values Spirent at 201.5 pence per share, inclusive of a 2.5 pence special dividend, leading to an equity valuation of $1.46 billion, based on information from Keysight and Spirent.
Following the announcement, Spirent Communications’ stock witnessed an approximate 11% increase, reaching 198.6 pence per share on the London Stock Exchange.
The intent to purchase comes after VIAVI Solutions extended an all-cash proposal in March 2024 to acquire Spirent for about $1.3 billion. In response to Keysight’s offer, Spirent’s board has retracted their earlier endorsement of VIAVI’s bid.
The successful completion of Keysight’s acquisition hinges on the acceptance of the offer by investors with at least 75% of the voting rights, in addition to obtaining the necessary regulatory approvals.
Subscribe to GPS World
If you enjoyed this article, subscribe to GPS World to receive more articles just like it.
Follow Us