Investment company Advent has made an offer to buy British test and measurement equipment maker Spectris Plc for £3.7bn ($5bn).
According to a press release, Advent has offered £37.63 per Spectris share, which implies a premium of 85% to Friday’s closing quotations.
Spectris’ board of directors is prepared to support the deal if a final offer is received.
Spectris shares jumped 70% during trading on Monday.
Spectris develops high-tech hardware and software for the medical, automotive, electronics and semiconductor industries. The company has 7,600 employees in 30 countries.