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