Slaughter and May is advising Spectris plc (“Spectris”) on a recommended cash acquisition by MI Metron UK Bidco Ltd (“Bidco”), an indirect subsidiary of funds managed and/or advised by Advent International, L.P. (“Advent”), of the entire issued and to be issued share capital of Spectris, to be effected by means of a court-sanctioned scheme of arrangement.
Under the terms of the acquisition, Spectris shareholders will be entitled to receive £37.63 for each Spectris share (comprising £37.35 in cash from Bidco and an interim dividend of 28 pence to be paid (subject to approval by the Spectris Directors) by Spectris in the ordinary course of its FY25 dividend calendar.
The offer values the entire issued and to be issued share capital of Spectris at approximately £3.8 billion and implies an enterprise value of approximately £4.4 billion. The transaction is expected to complete in or by Q1 2026.
Martha Savage / Trainee, Hamish Phillips / Trainee, Louise Cripps / Trainee