Takeover bids send shares in two UK tech firms soaring
Spectris shares surged 63% after the company received a take-private offer from private equity firm Advent International.
The proposed deal, which includes a cash offer and an interim dividend, follows multiple approaches to the Spectris board and could soon be formally recommended to shareholders.
Shares in high-tech equipment maker Spectris surged 64% today after it received a £3.7bn takeover proposal from private equity giant Advent International.
Spectris, a FTSE 250 company, said it had reviewed the offer with its advisers and concluded that the terms were attractive enough for the board to be “minded to recommend unanimously” should a formal bid be made.
Meanwhile, semiconductor designer Alphawave IP jumped 22% after agreeing to a $2.4 billion (£1.8 billion) acquisition by US chipmaker Qualcomm.
Charles Hall of Peel Hunt commented: “UK companies seem to be far more appealing to acquirers than to investors. The persistent outflow of capital from domestic markets is the root cause. If we want the UK equity market to thrive, we need urgent reform—particularly in areas like pension funds, ISAs, and stamp duty—to ensure UK capital backs UK companies.”
AJ Bell’s head of financial analysis, Danni Hewson, added: “There’s been growing interest from global investors in markets outside the US. While London has had a strong start to the year, many UK companies still appear undervalued, making them prime targets for takeover bids.”
