(Reuters) - Lone Star Global said on Monday it has proposed a higher takeover offer for aircraft parts supplier Senior Plc of 838.8 million pounds ($1.2 billion), after the London-listed company rejected a previously undisclosed proposal last week.
The U.S.-based private-equity firm said the 200 pence per share offer will be its fifth and final for Senior, whose shares were up 22% at 185 pence by 0819 GMT. Through its unit LSF XI Investments, Lone Star had proposed 185 pence per share on June 14.
Senior, which supplies parts such as airframes and engine build-up tubes to planemakers, did not have an immediate comment.
The pandemic hit the company hard and is one of the latest targets of rising private equity interest in British firms. The latest offer from Lone Star was at a premium of about 32% to Senior's close on Friday.
Lone Star had until June 25 to make a firm offer or walk away from the deal.
($1 = 0.7226 pounds)
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(Reporting by Pushkala Aripaka in Bengaluru, Editing by Shounak Dasgupta)
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