European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

KKR–Spectris: Major Reg Hurdles Cleared; Timing Drives 2.13% Gross Into Q1’26

Spectris Update: KKR’s Recommended Counter-Offer Displaces Advent

Spectris in Play: Advent Locks In, KKR Circles

Spectris – Board Flips to Advent’s Raised Offer, KKR Cornered

Event-Driven

<ul>
<li>KKR’s £41.75/share cash-and-dividend offer for Spectris has secured overwhelming shareholder approval, with scheme completion likely in Q1 2026 pending court sanction and regulatory clearances under the UK Takeover Code.</li>
<li>The deal implies a 105% premium to the undisturbed price and 15.6x EV/EBITDA multiple, with KKR already beginning to take control of governance and management direction at Spectris.</li>
<li>At 4,040p close, the spread looks attractive; outcome is binary, but timing is the critical swing factor for returns as settlement drifts between January and March 2026.</li>
</ul>


KKR’s £41.75/share cash-and-dividend offer for Spectris has secured overwhelming shareholder approval, with scheme completion likely in Q1 2026 pending court sanction and regulatory clearances under the UK Takeover Code.
The deal implies a 105% premium to the undisturbed price and 15.6x EV/EBITDA multiple, with KKR already beginning to take control of governance and management direction at Spectris.
At 4,040p close, the spread looks attractive; outcome is binary, but timing is the critical swing factor for returns as settlement drifts between January and March 2026.


Spectris – KKR Clears Shareholder Hurdle; Arb Returns Now Timing-Dependent

Spectris PLC

Spectris – KKR Clears Shareholder Hurdle; Arb Returns Now Timing-Dependent