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Senior PLC on Tuesday said it has accepted a 300 pence per share offer from a consortium led by Tinicum Inc and Blackstone Inc. The Hertfordshire, England-based engineering and manufacturing company said the offer values the firm at £1.28 billion on a fully diluted basis, and implies an enterprise value of £1.40 billion. Under the agreement, shareholders will receive 297.85p in cash and a final dividend of 2.15p per share for every share in Senior held. Shares in Senior were up 0.7% at 291.50p each in London on Tuesday for a market value of £1.22 billion. Last week, Senior confirmed it was in talks with New York-based private equity firm, Blackstone, together with Tinicum, after receiving a preliminary all-cash offer of an undisclosed amount. On Tuesday, the consortium said it had received support from 20.2% of Senior shareholders for the offer. Senior Chair Ian King said the board believes the offer recognises the ‘attractiveness of Senior and represents an opportunity for Senior shareholders to realise an immediate cash value at an attractive enterprise valuation.’ In March, Senior rejected an offer from Advent International LP, a Boston, Massachusetts-based private equity firm, but agreed to extend the offer deadline to April 17. The offer was for up to 272 pence per Senior share, of which 270 pence per share would be payable in cash. New York-based private equity firm Arcline Investment Management LP last week ruled itself out of the bidding for the FTSE 250 listing. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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