UK's Spectris agrees sweetened KKR offer as takeover battle heats up
The London-headquartered company said it had agreed to a 41.75 pound per share deal with KKR just four days after backing a bid from Advent at 41 pound per share.
The two private equity firms have been vying for control of the company for over a month after Spectris agreed to an initial offer from Advent in June.
Britain's subdued valuations and relative stability have attracted overseas buyers, with a flurry of bids in recent months highlighting appetite for UK assets.
The KKR offer values Spectris' equity at 4.2 billion pounds, with an enterprise value of 4.8 billion pounds.
($1 = 0.7528 pounds)
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