Advent to Buy U.K. Defense Firm Cobham in $5 Billion Deal (excerpt)
(Source: Bloomberg News; published July 25, 2019)
By Frank Connelly
U.S. buyout firm Advent International Corp. agreed to acquire U.K. defense and aerospace company Cobham Plc for about 4 billion pounds ($5 billion), as cash-flush private-equity firms seek targets in Britain.

Cobham shareholders will receive 165 pence a share in cash, a 34% premium to the closing price on Wednesday, the companies said in a statement Thursday. The stock traded 35% higher at 165.35 pence as of 10:53 a.m. in London.

The purchase of Cobham, which makes electronics, communications gear and specialized equipment for aircraft and ships, marks at least the second takeover of a U.K. defense firm since the start of 2018, when Melrose Industries Plc bought GKN Plc in a hostile deal. That purchase initially met pushback from the U.K. on national security grounds, as has the proposed sale this year of satellite operator Inmarsat Plc to a group of buyout funds.

“There may regulatory and political scrutiny of this deal,” Neil Wilson, an analyst at, said of the Cobham transaction. (end of excerpt)

Click here for the full story, on the Bloomberg News website.

Click here for the related announcement by Cobham, on the company’s website.


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