Shareholders will receive 300p per share, including a 2.15p final dividend. The price represents a 36.6% premium to Senior’s six-month average share price and more than 50% to its 12-month average, though it is only a modest 2.8% uplift on Senior’s most recent closing price. Senior’s board intends to unanimously recommend the deal, and irrevocable undertakings have been secured from investors representing around 18% of the share register.
Senior has been the subject of various approaches in recent months. Earlier bids included interest from Arcline and a £1.14bn proposal from Advent, with the Blackstone-Tinicum consortium emerging as the preferred bidder. This follows a period where Senior confirmed takeover chatter and said it had received two offers and discussions were ongoing, according to the company. Senior said it had received five takeover proposals in recent months, beginning with a bid in January that it rejected for fundamentally undervaluing the business. The bidder that made the January bid made two higher offers this month, which were subsequently batted away. Senior hired investment banks to kick-start talks with a limited number of third parties to see how much it would be worth, and the talks resulted in two further, superior all-cash proposals.
Senior supplies high-performance components and systems to aerospace and defence customers including Boeing and Airbus. The company generated around £738m in revenue in 2025, and the agreed offer values the business at around 15.2 times adjusted earnings and 22 times operating profit for 2025.
The consortium plans to combine Senior with AeroFlow Technologies, an existing Tinicum portfolio company.
Shares in Senior surged as it revealed multiple takeover offers.
Conflicting reports exist about the status of the takeover deal. While multiple reports indicate Senior has agreed to the £1.3bn takeover with board recommendation, Senior itself has stated that discussions are ongoing with multiple possible buyers, including Advent International, and no deal has been finalized. US private equity firm Advent International confirmed it was considering making an offer for Senior.
Irrevocable undertakings have been secured from investors representing around 18% of the share register.
The timeline for the takeover deal's completion and shareholder approval process remains unclear.
Regulatory approvals required for the takeover could pose potential hurdles.
The terms of the further, superior all-cash proposals mentioned by Senior are unknown.
How the combination with AeroFlow Technologies will impact Senior's operations and market position is another unknown.
In summary, Senior's takeover situation involves a recommended £1.3bn offer from a Blackstone-Tinicum consortium amid multiple bids and ongoing discussions. The board's recommendation and shareholder undertakings provide momentum, but conflicting reports and unknowns about timeline, regulatory approvals, and other bidders leave the outcome uncertain.