(Reuters) -Spirent Communications has agreed to Keysight Technologies’s offer valuing the firm at 1.16 billion pounds ($1.46 billion), it said on Thursday, withdrawing its support for Viavi Solutions’s bid that was 15% lower.
U.S.-based Keysight offered to buy the British telecommunications testing firm for 201.5 pence per share, compared to Viavi’s 175 pence apiece bid in early March.
Electronic equipment maker Keysight’s offer represents a premium of 85.9% to Spirent’s closing price of 108.4 pence on March 4, higher than Viavi’s 61.4% premium.
($1 = 0.7922 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Janane Venkatraman)
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