UK's Spirent Communications surges on accepting Keysight's offer

Viavi Solutions

28/03/2024 08:23

** Shares of Spirent Communications  SPT.L  rise 10.7% to
198.3p in early trading; among top pct gainers on the FTSE
mid-cap index  .FTMC 
    ** British telecommunications co agrees to Keysight
Technologies'  KEYS.N  offer valuing the firm at 1.16 mln pounds
($1.46 bln)
    ** Co ditches Viavi Solutions'  VIAV.O  bid that was 15%
lower
    ** Keysight's offer represents a premium of 85.9% to
Spirent's closing price of 108.4 pence on March 4
    ** Spirent shares hit highest level in more than a year
    ** Shares up 63.4% YTD, as of last close


($1 = 0.7931 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))