Announcement Regarding Media Speculation
Senior confirms preliminary all-cash takeover proposal from Tinicum and Blackstone consortium received 20 February.
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THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE NOR AS TO THE TERMS OF ANY OFFER.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Announcement Regarding Media Speculation
Further to its announcement on 27 February 2026 regarding the receipt of all-cash proposals for its entire issued and to be issued share capital, Senior plc ("Senior" or the "Company") notes the recent media speculation. Senior confirms that, on 20 February 2026, it received a preliminary, non-binding all-cash offer from a consortium comprising of Tinicum Incorporated and funds and vehicles managed by Blackstone (the "Consortium") to acquire the entire issued and to be issued share capital of the Company (the "Proposal").
Discussions with the Consortium and other potential offerors remain ongoing. There can be no certainty that an offer will be made, nor as to the terms of any offer.
A further announcement will be made as and when appropriate.
As previously announced on 27 February 2026, the Panel Executive has granted a dispensation from the requirements of Rules 2.4(a) and 2.4(b) of the Code such that the Company is not required to identify in any announcement any potential offeror with which the Company is in talks, or from which an approach has been received, unless that potential offeror has been specifically identified in any rumour or speculation (as is the case in respect of the Consortium in this announcement).
In accordance with Rule 2.6(a) of the Code the Consortium is required, by no later than 5.00 p.m. (London time) on 31 March 2026, being 28 days following the date of this announcement, either to announce a firm intention to make an offer for Senior in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Senior, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can only be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.
This announcement is being made by Senior without the consent of the Consortium.
Notices related to the financial advisers
Rule 2.9 disclosure
Rule 26.1 information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.