Advent-Backed Cobham Studies Takeover of US Defense Peer Mercury [BNN Bloomberg (Canada)]
Maxar Technologies Inc. (MAXR)
Last maxar technologies inc. earnings: 3/2 04:08 pm
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Source: BNN Bloomberg
Shonnel Malani, an Advent managing partner and Cobham's chairman, said in an interview Wednesday that the company is looking seriously at Andover, Massachusetts-based Mercury as defense spending increases around the world. “Mercury would be the perfect fit,” he said. “There are only two mid-tier players worldwide that service the components for radars, which are Cobham and Mercury.” Malani's comments come a day after Mercury announced it had begun a strategic review. Shares in the company, which has come under pressure from activists including Elliott Investment Management and Jana Partners, have fallen 11% in New York over the last 12 months, giving it a market value of about $2.9 billion. Mercury is one of the last remaining independent, public suppliers of sophisticated electronics for the aerospace and defense industry. Its clients include the US government, meaning any purchase of could draw oversight from regulators in Washington who've been paying closer attention to dea
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