IN BRIEF: Senior announces court sanction of takeover scheme
Senior PLC - Hertfordshire, England-based engineering and manufacturing company - Announces that the court has sanctioned the scheme pursuant to which its acquisition by Zeus UK Bidco Ltd is being implemented. The purchaser is indirectly controlled by investment funds advised by affiliates of Tinicum Inc and Blackstone Inc. The scheme will become effective upon the court order being delivered to the registrar of companies, which is expected to occur on October 8.
Senior announced in April that it had accepted the consortium's 300 pence per share offer, which values it at GBP1.28 billion on a fully diluted basis, and implies an enterprise value of GBP1.40 billion. Shareholders will receive 297.85p in cash and a final dividend of 2.15p per share.
Current stock price: 297.50 pence, up 0.2% on Tuesday in London
12-month change: up 49%
By Aidan Lane, Alliance News reporter
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