Advent International told the market it will not bid for engineering group Senior (LSE:SNR) plc, a development that clears one potential rival from the race after Zeus UK Bidco Limited — a vehicle controlled by funds advised by affiliates of Tinicum Incorporated and Blackstone — announced a firm intention to make an offer on Tuesday.
"Advent confirms that it does not intend to make an offer for Senior. This is a statement to which Rule 2.8 of the Code applies." Advent said.
Under Rule 2.8 of the Takeover Code, Advent will be bound by restrictions that prevent it from launching an offer or acquiring an interest in Senior for six months from the date of this statement, unless the Takeover Panel gives consent.
Advent’s declaration follows an earlier update on 27 February 2026 in which it said, in response to press speculation, that it was considering a possible offer for Senior.
