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Keysight says Chinese clearance the last hurdle in Spirent acquisition
(Sharecast News) - Keysight Technologies said in a market update on Thursday that it was engaging "constructively" with China's State Administration for Market Regulation (SAMR) over its proposed acquisition of Spirent Communications, with completion still expected on or before 29 September. The S&P 500 electronic test and measurement giant confirmed that clearance from SAMR was the final outstanding regulatory approval needed for the all-cash acquisition of the London-listed network testing firm.
It said it was committed to working "quickly and constructively" with the SAMR, with support from Spirent, to secure the necessary approval.
Completion of the deal remained subject to satisfaction or waiver of remaining conditions, including the sanction of the scheme by the court.
Keysight reiterated that the expected timeline for completion remained unchanged, with the scheme set to become effective on or before 29 September, the transaction's long stop date.
The companies said they were keeping the timetable under close review and would provide further updates as necessary.
The proposed acquisition was first announced in March, and had been recommended by Spirent's board.
At 1145 BST, shares in Spirent Communications were down 0.51% at 195.6p.
Reporting by Josh White for Sharecast.com.
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