Blackstone Consortium Makes Non-Binding Cash Bid for Senior (1)

Senior Plc has received a takeover proposal from a consortium including private equity firm Blackstone Inc.

The British aerospace supplier received a non-binding cash offer from the bid group on Feb. 20, according to a statement Tuesday that confirmed earlier reporting from Bloomberg News. Tinicum Inc. is part of the consortium.

Shares of Senior surged last week after it said it’s in talks with potential buyers. The company has a market value of about £1.2 billion ($1.6 billion). Buyout firm Advent later confirmed it’s among those considering a possible offer for the business.

Senior said on Tuesday that discussions ...