The board of Spectris PLC (LSE

XS) has backed an improved £4.1 billion cash offer from KKR, which trumped a £3.8 billion deal agreed last week with another US private equity firm, Advent International. Under the terms of the acquisition, Spectris shareholders will receive £40 per share, including a £39.72 cash from KKR's bidco and a 28p interim dividend payable by Spectris.