Advent reveals 1.14 billion pound rejected bid for Senior

Advent International, a private equity firm based in the United States, has revealed the details of a rejected takeover bid for the United Kingdom aerospace engineering company Senior plc. The proposal valued the firm at approximately 1.14 billion pounds ($1.52 billion), equivalent to 272 pence per share. The offer consisted of 270 pence per share in cash, along with the right for shareholders to keep a final dividend for the 2025 fiscal year of up to 2 pence. This valuation represented a 5.6% premium over the closing price of the company's stock on February 26, the day before the initial approach was made. Senior operates as a critical supplier of aircraft components to major manufacturers including The Boeing Company and Airbus SE. In February, the engineering firm confirmed it had received five separate proposals. Other interested parties identified alongside Advent include Arcline Investment Management and a consortium involving Tinicum and Blackstone Inc.. Under takeover regulations in the British market, Advent now has until March 27 to announce a firm intention to make an offer or withdraw. While multiple bidders have been named, the specific financial terms of the other four proposals have not yet been made public.