LONDON (dpa-AFX) - Spectris plc (SXS.L), a provider of high-tech instruments, test equipment, and software, on Monday announced that its Board has rejected a takeover proposal from Kohlberg Kravis Roberts & Co. L.P. (KKR).
Spectris further said it is continuing its talks with Advent International Ltd. about a potential cash offer for 37.63 pounds per Spectris share, as announced on June 9.
Responding to media speculation, Spectris confirmed that it received a preliminary and conditional proposal from KKR on June 5 for the acquisition of all shares of Spectris.
The company's Board had received a proposal from KKR earlier, and there are no further proposals.
The company added that KKR has requested the same due diligence information that was shared with Advent. KKR is assessing the information.
KKR is required to either announce a firm intention to make an offer for Spectris or that it does not intend to make an offer by not later than July 11.
Spectris added that there is no certainty that KKR will make any offer or regarding the terms of any such offer.
On Friday, Spectris closed trading, 1.86% lesser than 3,158 pence on the London Stock Exchange.
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