UK-listed engineering business Senior plc has agreed to a £1.4bn ($1.9bn) takeover by a consortium led by Tinicum Incorporated and Blackstone, bringing to a close months of bid interest in the aerospace and defence group, according to a report by Reuters.
The recommended cash offer of 300 pence per share represents a modest premium to the company’s most recent closing price. Senior’s board said it intends to unanimously back the transaction, citing the consortium’s sector expertise and long-term...
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