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Cobham gets go-ahead for £2.6bn Ultra Electronics takeover
Evening Standard
|June 24, 2022
BUSINESS Secretary Kwasi Kwarteng today waved through the £2.6 billion takeover of British defence manufacturer Ultra Electronics by Cobham, itself owned by US private equity firm Advent.
The deal had been investigated due to potential national security issues.
Ultra is a FTSE 250 maker of systems including sonar and radio communications that holds contracts awarded by the Navy and the Air Force and also supplies its products to civilian companies. The deal is an all-cash offer.
This story is from the June 24, 2022 edition of Evening Standard.
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