SENIOR

The shareholders of Senior overwhelmingly approved the recommended cash takeover by Zeus UK Bidco, a consortium advised by funds of Tinicum and Blackstone. 99.80% of the scheme shares represented and 99.70% of the votes at the general meeting supported the takeover proposal. The transaction will be implemented via a court-sanctioned scheme of arrangement and remains subject to further conditions, including court approval expected by no later than Q1 2027. » Więcej na de.investing.com

Advent International said it will not make a takeover offer for Senior plc after Zeus UK Bidco Limited announced a firm intention to make an offer. Under Rule 2.8 of the Takeover Code, Advent may not make an offer for Senior within six months without the consent of the Takeover Panel, but it reserves exceptions, for example with the approval of Senior’s board, if the Zeus offer lapses, in the event of a third party firm intention, a Rule‑9‑waiver proposal, or a reverse takeover announcement. » Więcej na de.investing.com

Senior’s board has agreed to a recommended cash takeover by Zeus UK Bidco (advised by Tinicum and Blackstone). Shareholders will receive 300 pence per share (297.85 pence cash plus a 2.15 pence final dividend), representing a 36.6% premium to the volume‑weighted six‑month average. The transaction values the equity on a fully diluted basis at around £1.28 billion and implies an enterprise value of about £1.40 billion; the board and major shareholders have already given commitments of support. The merger with AeroFlow Technologies, recently acquired by Tinicum, is intended to strengthen the aerospace business; implementation will be by a court‑sanctioned scheme of arrangement and requires shareholder approval. » Więcej na de.investing.com