Keysight Technologies Wins Bid for Spirent Communications at £1.16 Billion

The U.S.-based electronic equipment maker's offer outbids Viavi Solutions by 15%, marking a significant premium over Spirent's market price.

Keysight Technologies has successfully outbid Viavi Solutions for the acquisition of UK-based Spirent Communications, valuing the company at approximately £1.16 billion ($1.46 billion).
The offer from Keysight represents a 201.5 pence per share valuation, significantly higher than Viavi's 175 pence per share bid.
Keysight's bid marks an 85.9% premium over Spirent's closing price on March 4, surpassing the 61.4% premium offered by Viavi.
The bidding war highlights the attractiveness of UK companies to US-based firms amid a sluggish UK economy and a weaker pound.
Institutional shareholders had initially supported Viavi's offer but considered it opportunistic, leaving room for a higher bid from competitors.