Advent International is among potential bidders for Senior plc, which disclosed it has received five takeover proposals in recent months, says Reuters.

The British engineering group initially rejected a January approach as “fundamentally undervaluing” the company. The same bidder returned with two higher proposals, both of which were also rejected. In February, Senior received two further higher all-cash offers from other parties, which it is currently reviewing.

Shares rose as much as 22.5% to a more than seven-year high of 315.5 pence, valuing the company at over £1.32bn, equivalent to approximately $1.78bn.

Advent confirmed it is among the interested parties and has until March 27 to make a firm offer under UK takeover rules. Neither Advent nor Senior disclosed bid values.

Senior supplies components to Boeing and Airbus. Aerospace dealmaking has accelerated as manufacturers seek greater supply chain control. Senior recently raised its annual profit outlook for the second time in two months, reflecting stronger aerospace performance.

The company has postponed the start of its £40m, equivalent to approximately $54m, share buyback programme amid the takeover discussions.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.