Senior plc (SNIRF,SNR.L),a designs and manufactures high technology components and systems, on Thursday confirmed that it received a preliminary, non-binding all-cash proposal from Arcline Investment Management, L.P. on February 21 to acquire the entire issued and to be issued share capital of the company.
The company said that the discussions with Arcline and other potential offerors are ongoing, but there is no certainty that an offer will be made or about the terms of any potential deal.
Under U.K. takeover rules, Arcline must by 5:00 p.m. London time on April 1, 2026, either announce a firm offer for Senior or confirm that it will not make an offer.
On Wednesday, Senior is currently trading 1.52% higher at GBp 300 on the London Stock Exchange.
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