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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
There goes another one. KKR’s £4.7bn purchase this week of Spectris, a high-tech equipment maker, is only the latest in a series of buyouts of UK mid-market companies. Lowly valuations are attracting bargain hunters. But investors wishing to take a punt on the next target will need to pick very carefully.
KKR’s bid, at a hefty 96 per cent premium, pipped that of rival private equity rival Advent International to take out the fifth-largest group in the FTSE 250 and the index’s fourth best performer this year. Other deals preceded it. In May, Deliveroo succumbed to a £2.9bn bid from US food delivery peer DoorDash while shortly before, convenience food producer Bakkavor agreed to a takeover by local rival Greencore, for £1.2bn. In January car parts group Dowlais accepted a £1.2bn offer from US peer…
