(RTTNews) - Senior plc (SNR.L) announced on Tuesday, that the company has agreed to a recommended cash acquisition by Blackstone Inc. and Tinicum Incorporated through newly formed bidder Zeus UK Bidco, valuing the company at about GBP 1.275 billion on a fully diluted basis.
Shareholders can expect to get 300 pence per share if everything goes through, which breaks down to 297.85 pence in cash along with a 2.15 pence final dividend for the fiscal year 2025, pending approval.
This offer gives a nice boost of 36.6 percent compared to Senior's average share price over the last six months and a 53.3 percent bump against the 12-month average. The board at Senior, with advice from Lazard, has fully backed the deal, deeming the terms to be fair and reasonable. They have also secured commitments from shareholders representing about 17.9 percent of Senior's share capital.
The consortium believes that going private will help enhance long-term investment, strengthen ties with aerospace customers, and promote growth, especially with the recently acquired AeroFlow Technologies in the mix.
SNR.L is currently trading at GBP 291.00, up GBP 1.50 or 0.52 percent on the London Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
