Arcline joints Advent, Blackstone consortium in pursuit of Senior

(Sharecast News) - Aero parts supplier Senior said on Thursday that Arcline Investment Management has made a preliminary, non-binding all-cash offer for the company. The offer from Arcline was made on 21 February.

Senior had already announced that it had received proposals from a consortium comprising of Tinicum Incorporated and Blackstone, and private equity firm Advent International.

It said on Thursday that discussions with Arcline and other potential offerors remain ongoing.

"There can be no certainty that an offer will be made, nor as to the terms of any offer," it said, adding that a further announcement will be made as and when appropriate.

Under UK takeover rules, Arcline has until 1700 GMT on 1 April to either announce a firm intention to make an offer or walk away.

At 0820 GMT, Senior shares were up 2.7% at 308p.