Advent not planning to bid for Senior

(Sharecast News) - Advent said on Wednesday that it does not plan to make a bid for Senior, after the engineer agreed to be bought by Tinicum and Blackstone in a £1.4bn deal a day earlier. The private equity firm had confirmed on 27 February that it was considering a possible offer.

Under UK takeover rules, it had until 17 April to either announce a firm intention to make an offer or walk away. The deadline was extended from an initial date of 27 March to allow for ongoing talks between the two parties.

Tinicum and Blackstone said on Tuesday that Senior had agreed to be taken over for 300p per share. This includes 297.85p per share in cash and the FY25 final dividend of 2.15p.

At 1227 BST, Senior shares were down 2.1% at 285p.

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