Lone Star Funds improved offer for Senior Plc

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AK&M 21 June 2021 20:45

Senior Plc, a U.K. supplier of aerospace parts to Boeing Co. and Rolls-Royce Holdings Plc, received an improved possible cash offer from Lone Star Funds of 200 pence a share, as it was informed by the media on June 21. 

The bid is Lone Star’s fifth and final proposal. The transaction's value us set at 838.8 million pounds ($1.2 billion) and represents a premium of about 32% to Friday’s closing share price.

Senior rejected the previous offer of 185 pence a share earlier this month.

Senior is a producer of fuel systems and turbine engine components for the aerospace and defense industries. The biggest customers include Lockheed Martin Corp. and Airbus SE.