Advent International has sold its entire stake in British industrial technology firm Spectris, weeks after losing a takeover battle for the company.
According to a regulatory filing on Thursday, the Boston-based private equity firm reduced its holding to zero from a previous position of 7.74%.
The disposal follows a bidding war in which Advent's final offer of £41.00 per share was topped by a rival bid from Kohlberg Kravis Roberts & Co.
In August, Spectris's board recommended KKR's final offer of £41.75 per share, which valued the company at approximately 4.15 billion British Pounds.
Advent subsequently confirmed it would not increase its offer and would not proceed with its bid.
KKR's acquisition of Spectris has since received several key regulatory approvals and is expected to be completed by the first quarter of 2026.
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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.
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