Senior delays PS40 million buyback plan amid takeover negotiations

Senior PLC on Friday postponed a £40 million buyback programme, amid negotiations for a possible takeover of the company.

Hertfordshire, England-based Senior makes components and systems for aerospace, defence, land vehicle, power and energy customers.

Back in January, Senior’s board unanimously rejected an all-cash bid, which it said ‘fundamentally undervalued’ the company. The same bidder made two higher offers in February, with Senior ‘unequivocally’ rejecting the second offer.

Senior hired Lazard and Jefferies to negotiate with other potential buyers and size up ‘the value that could potentially be achieved.’

‘Following a period of discussions with these other parties, the company confirms it has received two further, superior all-cash proposals from other potential offerors. Discussions with potential offerors remain ongoing,’ Senior said on Friday.

As a result, the company has entered an offer period, and delayed a £40 million buyback scheme, which was slated to start after the publication of its annual results on Monday.

‘The board will keep this under review and make a further announcement as necessary,’ Senior added.

The firm stressed there is no certainty of an offer being made, and noted it had not obtained consent from possible bidders before making Friday’s announcement.

Senior shares rose 18% to 303.25 pence on Friday morning in London, and are up 84% over the past year.

Last month, the firm described 2025 adjusted pretax profit as ‘comfortably above previous expectations,’ boosting guidance for the second time in three months and citing stronger-than-expected trading since November, particularly in aerospace. Analyst consensus prior to the January update put adjusted pretax profit at £43 million, up from £33.0 million in 2024.

Copyright 2026 Alliance News Ltd. All Rights Reserved.