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.
