London-listed Spectris soars 20% on fresh takeover interest from Advent
Investing.com -- Shares of Spectris PLC (LON:SXS) surged by over 20% in London trading following a Bloomberg News report that private equity firm Advent is considering a takeover of the UK-based precision and testing equipment maker.
The potential acquisition comes as Spectris shares had previously dropped about 18% this year, valuing the company at around £2 billion ($2.8 billion).
Spectris, which employs 7,600 people across more than 30 countries, specializes in developing high-tech instruments, testing equipment, and software for various industries, including life sciences, automotive, electronics, and semiconductors. Asia is a significant market for Spectris, contributing to about 36% of its revenue last year, with Europe and North America following closely.
This news of potential acquisition interest comes after a failed takeover attempt by Bain Capital and Advent International in 2018, which was abandoned amid the political uncertainties brought on by Brexit.
Under the leadership of CEO Andrew Heath, Spectris has been streamlining operations since 2018, focusing on its core business in the scientific and dynamics divisions. This strategic shift followed a decline in first-quarter sales due to weakened demand in key sectors such as automotive and semiconductors.
Despite the challenging market conditions, Spectris has been optimistic about mitigating the impacts of tariffs and achieving strong growth in adjusted operating profit by 2025.
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We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
