LONDON (ShareCast) - (Sharecast News) - Lone Star said it does not intend to make an offer for Senior after the aerospace engineer rejected the private equity group's final approach.
The US firm had pursued Senior and on Monday lodged its fifth and final proposal of 200p a share. On Tuesday Senior's board said the proposed bid, which valued the UK company at £839m, was opportunistic and undervalued the company.

Lone Star said on Thursday it did not plan to make an offer in the next six months. It reserved the right to bid if Senior's board agreed or another bidder announced a firm intention to make an offer.

US buyout firms have been snapping up UK listed companies they think are undervalued in the wake of Brexit and the pandemic. Senior said Lone Star made its approaches when the aviation market was at a low point and that the proposed offer did not reflect the likely revival in civil aerospace, land vehicle and energy markets.

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