Lone Star bows out of takeover race for Senior Plc after five rejections By Reuters

(Reuters) – Lone Star Global said on Thursday it had backed out from trying to take over Britain’s Senior Plc (LON:SNR) after the aircraft and car parts supplier this week rejected the private equity firm’s fifth proposal.

Senior Plc said on Tuesday there was no basis for it to engage with Lone Star after the fund said its 200-pence-per-share final offer could only be increased if a rival bid was made.