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UK's Spirent ditches Viavi for Keysight's 15% higher takeover offer
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UK's Spirent ditches Viavi for Keysight's 15% higher takeover offer
Mar 28, 2024 1:16 AM

March 28 (Reuters) - Spirent Communications ( SPNUF ) has

agreed to Keysight Technologies's ( KEYS ) offer valuing the

firm at 1.16 billion pounds ($1.46 billion), it said on

Thursday, withdrawing its support for Viavi Solutions's ( VIAV )

bid that was 15% lower.

U.S.-based Keysight ( KEYS ) offered to buy the British

telecommunications testing firm for 201.5 pence per share,

compared to Viavi's 175 pence apiece bid in early March.

Electronic equipment maker Keysight's ( KEYS ) offer represents a

premium of 85.9% to Spirent's closing price of 108.4 pence on

March 4, higher than Viavi's 61.4% premium.

($1 = 0.7922 pounds)

(Reporting by Prerna Bedi in Bengaluru; Editing by Janane

Venkatraman

)

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