Spirent Communications Announces Recommended Cash Acquisition By Viavi - Quick Facts

(RTTNews) - The boards of Viavi Solutions, Viavi Solutions Acquisitions or Bidco, and Spirent Communications plc have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Spirent by Bidco. Each Spirent shareholder shall be entitled to receive: 175 pence for each Spirent share held. The acquisition value comprises, for each Spirent share: 172.5 pence in cash; and a special dividend of 2.5 pence per Spirent share. The acquisition price values the entire issued and to be issued ordinary share capital of Spirent at approximately 1.005 billion pounds.

Also, Silver Lake is making a $400 million long-term strategic investment in Viavi in connection with the acquisition. Ken Hao, Chairman and a Managing Partner of Silver Lake, will join the Viavi Board.