Keysight to launch $1.45 billion rival offer for London-listed Spirent, Sky News reports

:U.S.-based Keysight Technologies is preparing to launch a formal offer for British telecommunications testing firm Spirent Communications worth roughly 200 pence a piece, Sky News reported on Wednesday.

The deal would be valued at about 1.15 billion pounds ($1.45 billion), the report added.

On March 5, U.S.-listed communications equipment firm Viavi Solutions had agreed to buy Spirent for about 1.01 billion pounds. As part of the deal, Spirent shareholders would get 175 pence per share.

The offer from Keysight represents an 84.5 per cent premium to Spirent’s closing price of 108.40 pence on March 4, compared with Viavi’s premium of 61.4 per cent.

Some institutional shareholders in Spirent had indicated that they would vote in favor of Viavi’s offer, but believed it was opportunistic and left the door ajar for a rival bidder, the Sky News report added.

Spirent Communications, Viavi Solutions and Keysight Technologies did not immediately respond to Reuters requests for a comment.

($1 = 0.7915 pounds)