SPECTRIS

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.

Shareholders of Spectris on Wednesday approved a takeover by private equity firm Kohlberg Kravis Roberts & Co. for approximately 4.15 billion British Pounds, bringing a close to a competitive bidding war for the industrial technology company.

Shareholders of Spectris on Wednesday approved a takeover by private equity firm Kohlberg Kravis Roberts & Co. for approximately 4.15 billion British Pounds, bringing a close to a competitive bidding war for the industrial technology company.

Hedge fund Balyasny Asset Management has increased its stake in Spectris, paying a price above a current takeover proposal in a sign it is betting a higher offer for the British industrial technology company will emerge.

The takeover battle for Spectris PLC is continuing after a key deadline for private-equity firm KKR to make a formal offer passed without a public announcement.