Cobham says US firm set to complete takeover
British defence group Cobham said Monday that its 4.0-billion takeover by US private equity firm Advent International will complete next month, after the UK government approved the deal late Friday.
Britain had ordered a national security probe into US private equity group Advent International’s bid, worth $5.2 billion or 4.7 billion euros, in September.
Dorset-based Cobham is known for pioneering technology enabling the mid-air refuelling of planes, while it also makes electronic warfare systems and communications for military vehicles.
Just before the weekend, Business Secretary Andrea Leadsom signed off on the takeover deal, after Advent proposed legal undertakings that are aimed at mitigating possible national security concerns.
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