Britain set to approve £4 billion U.S. takeover of defense company Cobham [MarketWatch]
INMARSAT PLC ADR (IMASY)
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Source: MarketWatch
Britain set to approve £4 billion U.S. takeover of defense company Cobham The U.K. government is set to wave through the £4 billion takeover of Cobham by Advent International after the U.S. buyout group agreed to strengthen security arrangements around sensitive sites and inform the Ministry of Defence if it plans to sell all or part of the U.K. aerospace and defense supplier. The ruling comes three weeks after Andrea Leadsom, Britain’s business minister, instructed the Competition and Markets Authority to investigate whether the sale of the air-to-air refueling equipment maker posed a national security threat. Leadsom said: “Following my update to Parliament on 5 November, I have now reviewed further national security advice from the MoD and met with both Cobham COB, +3.83% and Advent who have offered legally binding undertakings designed to mitigate national security concerns, which I am minded to accept.” Shares in FTSE-250 listed Cobham were up 3.7% at 160.55 pence in London tr
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