Hedge funds are increasing their bets on the successful completion of Kohlberg Kravis Roberts & Co.'s planned 4.15 billion British Pounds takeover of Spectris, following overwhelming shareholder approval for the deal.
Regulatory filings show Millennium International Management has been building its stake in the industrial technology company, lifting its interest to 1.97% through derivative contracts on Wednesday.
The transactions were made at prices around 40.42 British Pounds per share, below KKR's final offer of 41.75 British Pounds per share, indicating confidence the acquisition will close.
The move comes after Spectris shareholders voted to approve the takeover on Wednesday, with 99.93% of votes cast in favor of the resolution, according to a company filing.
The vote concluded a bidding war with rival private equity firm Advent International, which withdrew its offer earlier in August after KKR raised its bid.
The acquisition, which values each Spectris share at 41.47 British Pounds in cash plus a 28 pence dividend, still requires final court and regulatory approvals.
The company has previously said it expects the deal to be completed in or by the first quarter of 2026.
In a routine filing on Friday, Spectris confirmed it had approximately 99.34 million total voting rights.
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Spectris on Tuesday issued a routine statement confirming its share capital, a procedural step as the British technology firm's 4.15 billion British Pound takeover by private equity firm KKR moves toward completion.
Spectris on Friday issued a routine statement confirming its share capital, a procedural step as the British technology firm's 4.15 billion British Pound takeover by private equity firm KKR moves toward completion.
Spectris on Thursday issued a routine statement confirming its share capital, a procedural step as the British technology firm's 4.15 billion British Pound takeover by private equity firm KKR moves toward completion.
Spectris reported an 11% rise in third-quarter sales on Thursday, as the British technology firm moves into the final stages of its takeover by private equity firm KKR.