Extension of PUSU Deadline
Advent's deadline to announce firm takeover bid extended from 27 March to 17 April 2026.
- Preliminary offer price 270p per share in cash plus up to 2p FY25 dividend
- Total preliminary offer value up to 272 pence per share
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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 ON WHICH ANY OFFER MIGHT BE MADE.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Extension of PUSU Deadline
On 27 February 2026, Advent International Limited, in its capacity as adviser to Advent International, L.P., the manager of and / or adviser to certain private equity funds ("Advent") announced that it was considering a possible offer for Senior plc ("Senior" or the "Company") (the "Initial Announcement"). On 5 March 2026, Advent announced that it had made a preliminary, non-binding all-cash offer to acquire the entire issued and to be issued share capital of the Company at a total value of up to 272 pence per Senior share, comprised of an offer price of 270 pence in cash and the right to retain any FY25 final dividend of up to 2 pence per share, which was unequivocally rejected by Senior.
The Initial Announcement stated that, in accordance with Rule 2.6(a) of the Code, Advent is required, by no later than 5.00 p.m. (London Time) on 27 March 2026 (the "PUSU Deadline"), 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.
Discussions between the Company and Advent are ongoing. Therefore, in accordance with Rule 2.6(c) of the Code, Advent has requested, and the Board and the Panel have consented to, an extension of the Deadline. In accordance with Rule 2.6(c) of the Code, Advent is now required, by no later than 5.00 p.m. (London time) on 17 April 2026 (the "Revised Deadline"), 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. The Revised Deadline can be further extended with the consent of the Panel, in accordance with Rule 2.6(c) of the Code.
Discussions between the Company and other potential offerors remain ongoing. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made.
A further announcement will be made as and when appropriate.
Notices related to the financial advisers
Rule 26.1 information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.