The pool of potential buyers for UK-listed aerospace and defence supplier Senior plc has narrowed after private equity firm Arcline Investment Management withdrew from takeover discussions, according to a report by Reuters.
While Arcline has stepped away from the process without disclosing its reasons, talks with other interested parties are ongoing, leaving the sale process active.
Senior reportedly declined to comment on the development. Its shares showed only modest movement following the news.
The company has attracted interest from US private equity firms amid a broader trend of transatlantic dealmaking, particularly in defence-linked sectors that are benefiting from increased government spending against a backdrop of heightened geopolitical tensions.
Senior generates a portion of its revenues from defence-related activity and counts major contractors such as Lockheed Martin among its customers.
Under UK takeover regulations, Arcline is now restricted from making a renewed approach for the business for six months, except under limited circumstances.
The company had previously rejected a £1.14bn offer from Advent International in March but continues to engage with the firm, alongside a consortium involving Tinicum Incorporated and Blackstone.
