The takeover battle for Spirent has escalated as bidder Viavi took a swipe at its rival Keysight.
Viavi, the Arizona-based technology giant eyeing the FTSE 250 telecommunications group, warned that a rival bid would leave customers worse off.
Spirent said on Thursday that it would recommend a 201.5p per share offer from California-based Keysight Technologies, worth £1.2 billion.
Tussle: Spirent said on Thursday that it would recommend a 201.5p per share offer from California-based Keysight Technologies
But Viavi came out swinging yesterday.
The firm said it believed ‘that the proposed combination of Keysight and Spirent would limit customer choice’. Viavi was gazumped after Spirent had agreed to its £1billion offer a few weeks ago.
Spirent bosses earlier this week said Keysight’s offer was superior. Chairman Bill Thomas said it ‘provides shareholders with even greater value in cash for their shares’.
