Keysight Technologies Inc. (0A7N) has issued a formal confirmation under Rule 19.6(c) of the City Code on Takeovers and Mergers, stating that it has complied with all post-offer intention statements made in connection with its completed acquisition of Spirent Communications plc. The confirmation, released on 15 October 2026, marks exactly 12 months since the scheme of arrangement became effective on 15 October 2025. The announcement is a regulatory requirement rather than a voluntary disclosure, but it signals to investors that Keysight has met the commitments it publicly outlined during the takeover process.

Key Points

  • Keysight Technologies Inc. (0A7N) has filed a Rule 19.6(c) confirmation with the Panel on Takeovers and Mergers
  • The company states it has complied with all post-offer intention statements relating to its acquisition of Spirent Communications plc
  • The scheme of arrangement became effective on 15 October 2025; this confirmation covers the subsequent 12-month period
  • Investors may watch for any further operational or strategic updates regarding Keysight's integration of Spirent's test and measurement business

Keysight's Court-Sanctioned Scheme of Arrangement for Spirent Completed October 2025

The acquisition of Spirent Communications plc by Keysight Technologies was implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The scheme became effective on 15 October 2025, following Keysight's recommended cash offer for the entire issued and to be issued share capital of Spirent. The original Rule 2.7 announcement outlining Keysight's firm intention to make the offer was published on 28 March 2024, with the formal scheme document following on 25 April 2024. Keysight is a US-headquartered electronic test and measurement company serving sectors including telecommunications, aerospace, and semiconductor industries.

Rule 19.6(c) Obligation Requires Written Confirmation to the Takeover Panel After 12 Months

Under Rule 19.6(c) of the City Code on Takeovers and Mergers, any party to an offer is required to make a public announcement at the end of a 12-month period from the date the offer period ended. The announcement must confirm whether the party has or has not followed through on the course of action described in its stated post-offer intentions. Keysight has confirmed in writing to the Panel on Takeovers and Mergers that it has complied with the intention statements made under Rule 2.7(c)(viii) and Rule 24.2 of the Code. This regulatory mechanism is designed to hold acquirers accountable for commitments made during competitive takeover processes.

Post-Offer Intentions Governing Employment, Headquarters and Strategy Were Set Out in March and April 2024

The post-offer intention statements to which this confirmation relates were set out in Keysight's Rule 2.7 announcement dated 28 March 2024 and in the scheme document published on 25 April 2024. These documents typically address matters such as employee arrangements, business locations, and strategic plans for the acquired company. The announcement states that Keysight has complied with those stated intentions across the 12-month period following completion. The specific content of those intentions, and the precise measures taken to fulfil them, is not detailed further in this particular regulatory confirmation.