March 3 (Reuters) - Blackstone is among suitors exploring a bid for British aerospace supplier Senior Plc, Bloomberg News reported on Tuesday citing people with knowledge of the matter. Reuters could
UK aerospace supplier Senior receives takeover proposal from Tinicum-Blackstone
Senior Plc takeover interest and ongoing discussions
Takeover proposal from Tinicum and Blackstone
March 3 (Reuters) - British aerospace supplier Senior Plc said on Tuesday it had received a takeover proposal from U.S.-based investment firm Tinicum and Blackstone, adding to a flurry of approaches in recent months by potential suitors.
Background: Previous takeover proposals
Senior, a parts-supplier to Boeing and Airbus, last week disclosed it had received five takeover proposals in recent months, with private equity firm Advent confirming it was one of the suitors.
Ongoing discussions with bidders
Discussions were ongoing with Tinicum and Blackstone and other potential bidders, said Senior, which as of Tuesday had a market capitalization of 1.25 billion pounds ($1.66 billion).
Market performance and reporting
The talks between Blackstone and Senior, first reported by Bloomberg News, become public a day after Senior said it beat annual market profit expectations on robust demand and better pricing for aero parts.
Details of Tinicum and Blackstone proposal
Preliminary proposal timeline
Tinicum, which has a vast portfolio of manufacturing, infrastructure, distribution and industrial technology companies, made the preliminary proposal along with Blackstone on February 20, Senior said.
Other bids and bidders
Details of other bids and bidders remained unknown.
Exchange rate information
($1 = 0.7517 pounds)
Editorial note
(Editing by Bernadette Baum)
