Slaughter and May is advising Senior plc (“Senior”), an international manufacturer of high-technology components and systems, on its recommended cash acquisition by Zeus UK Bidco Limited, a newly formed company to be indirectly controlled by Tinicum Incorporated and investment funds advised by affiliates of Blackstone Inc., for the entire issued and to be issued ordinary share capital of Senior, to be effected by means of a court-sanctioned scheme of arrangement.
Under the terms of the offer, Senior shareholders will be entitled to receive a total value of up to 300 pence per Senior share, comprising cash consideration of 297.85 pence and a permitted dividend of 2.15 pence to be paid prior to completion. The cash consideration values Senior at approximately £1,275mn. The transaction is expected to complete by the end of Q1 2027, subject to regulatory and shareholder approvals.
Elise Goddard / Trainee