Laird shareholders will be entitled to
The Laird directors, advised by Rothschild, J.P. MorganCazenove and Numis, consider the terms of the deal to be "fairand reasonable", the company said in a statement.
High asset prices in private transactions are increasinglypushing buyout funds to target publicly listed companies.
Letters of intent representing 5.89 percent of issued sharecapital of Laird, which makes wireless communication equipmentand technology for automated systems, have been received.
Laird on Thursday reported an annual operating profit of76.9 million pounds, up from 61.9 million.
The company completed a 185 million pound rights issue inApril 2017 that reduced borrowings and altered its capitalstructure to enable investment.
"In my first year as CEO, we've simplified structures,enhanced the quality of the leadership and focussed on improvingthe efficiency and profitability of all Laird's operations.These actions have delivered much improved results, and havebuilt strong foundations for the future," Chief Executive TonyQuinlan said.
Volatility in foreign exchange rates, however, presents asignificant headwind for sterling profits in 2018, the companysaid.
Advent has invested in more than 330 buyout transactions in40 countries. It had
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