UK engineer Senior draws multiple takeover bids as shares surge 21%

Takeover interest lifts Senior shares as board reviews bids

Multiple approaches and bid timeline

Feb 27 (Reuters) - Senior's shares surged on Friday after the British engineering company said it has received multiple takeover offers in the past few months and is considering two of them, with discussions also ongoing with a potential bidder.

Senior said it had received five preliminary proposals, beginning with a January bid it rejected for “fundamentally undervaluing” the company. The same bidder later returned with two higher offers, the second of which was also rejected by the board.

The company, which supplies parts to aircraft makers Boeing and Airbus, in February received two higher all-cash bids from other interested parties, which it is now reviewing with its board.

Market reaction and takeover rules

Shares of the company rose as much as 21% to a more than seven-year high after the announcement. They were the top gainers across all London stocks.

Senior said it had made Friday's announcement without the consent of any of the potential bidders. The company's statement said the UK Takeover Panel had waived the usual requirements under its rules, allowing Senior to avoid naming any potential bidder unless that party has already been identified in rumour or speculation.

Analyst view on disclosure strategy

"Clearly there is value at Senior," Panmure Liberum analyst Alexandro da Silva O’Hanlon said. He noted that Senior's move to disclose the approaches without the bidders' consent suggested it is seeking greater leverage in negotiations.

Sector backdrop and recent aerospace M&A

Aerospace-related M&A has become brisk, as planemakers move to bring key suppliers in‑house to steady their supply chains.

Recent Boeing and Airbus moves

Boeing closed its $4.7 billion takeover of U.S.-based Spirit AeroSystems in December 2025, re-acquiring the bulk of the world's largest independent wing and fuselage maker.

Airbus took over selected Spirit operations linked to its own programmes.

Outlook, capital returns, and upcoming results

Senior had raised its annual profit outlook for the second time in two months in January as it benefits from stronger-than-expected performance in its aerospace business.

The company has also postponed the start of its 40 million pound ($53.86 million) share buyback following the bids, it said on Friday.

Senior Plc will report its 2025 results on March 2.

($1 = 0.7426 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala and Jane Merriman)