UK's Spirent Communications soars on premium offer from Viavi

Viavi Solutions

05/03/2024 08:24

** Shares in Spirent Communications  SPT.L  rise 59% to
172.5p 
    ** Stock is top pct gainer across all London shares 
    ** British telecommunications testing firm gets offer from
U.S.-based communications equipment firm Viavi Solutions
 VIAV.O 
    ** Proposed offer for about 1.01 bln pounds ($1.28 bln) at a
at a premium of about 61.4% to Spirent's closing price of 108.4
pence on March 4
    ** SPT shareholders will get 175p per share, special
dividend of 2.5p a share in lieu of any final dividend for year
ended Dec. 31, 2023
    ** Shares hit highest since July 31, 2023 
    ** Spirent stock was down ~53% in 2023 



 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))