Ashurst advises on £1.15 billion takeover of Spirent Communications plc
28 March 2024
Global law firm Ashurst is advising Centerview Partners UK LLP and Evercore Partners International LLP on the recommended cash offer for Spirent Communications plc (Spirent) by Keysight Technologies Inc (Keysight).
The Spirent Group is a global provider of automated test and assurance solutions for networks, cybersecurity, and positioning. The Spirent Group provides products, services and managed solutions that address the test, assurance and automation challenges of technologies, including 5G, SD-WAN, cloud, and autonomous vehicles. Spirent is admitted to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange and is headquartered in Crawley, UK.
Keysight is a leading technology company that helps enterprises, service providers, and governments accelerate innovation to connect and secure the world by providing electronic design, emulation, and test solutions that are used in the design, simulation, manufacture, installation, optimisation, and secure operation of electronics systems in the communications, aerospace & defence, and industrial sectors. Keysight's shares are publicly listed on the NYSE with a current market capitalisation of approximately US$28 billion.
On 5 March 2024, Spirent, Viavi Solutions Inc and Viavi Bidco announced the terms of a recommended offer for Spirent by Viavi Bidco. The Spirent Board has withdrawn its recommendation for the Viavi offer and intends to adjourn the Viavi offer shareholder meetings.
The Ashurst team is being led by partners Tom Mercer and Tim Rennie, assisted by senior associates Maria McAlister and Nicholas Jupp and associate Roshni Mehra.
