The aero parts supplier to Boeing and Airbus in February disclosed that it had received five proposals, of which two bidders, Advent and Tinicum-Blackstone, were known
International News via Reuters:
British aerospace supplier Senior said on Thursday Arcline Investment Management has made a preliminary all-cash offer for the company, as talks with other potential buyers continue.
The aero parts supplier to Boeing and Airbus in February disclosed that it had received five proposals, of which two bidders, Advent and Tinicum-Blackstone, were known.
Senior and the bidders have not yet disclosed the value of the bids. The company had a market value of about 1.26 billion pounds ($1.68 billion), as of Wednesday’s close.
Bloomberg News first reported on the private equity firm’s interest on Wednesday, a day after a consortium including Tinicum and Blackstone announced their interest to acquire Senior.
($1 = 0.7502 pounds)
Reporting by Prerna Bedi and Yamini Kalia in Bengaluru; Editing by Sumana Nandy and Subhranshu Sahu
