Senior shares soared on Friday after the company announced it is in discussions with multiple potential buyers following a series of all-cash takeover proposals.
Shares were 18% at the time of writing.
The engineering group first received a preliminary bid in January 2026, which the board unanimously rejected as fundamentally undervaluing the company. Two further offers from the same party followed in February, both also rejected.
The board subsequently appointed Lazard and Jefferies to approach other parties, resulting in two additional, superior all-cash proposals from separate bidders. Discussions remain ongoing.
Senior shares have performed well throughout 2025, making a potential deal all the more interesting because the company doesn’t trade at the low valuation typical of other recent takeover deals.
Indeed, Senior shares could be considered very fairly valued, if not slightly expensive. But the group is operating in an attractive area with contracts in the defence and aerospace sectors that are enjoying strong growth.
In light of the talks, Senior has postponed its planned £40 million share buyback programme, which had been due to start following publication of full-year results.