Sep 18, 2019

Cobham: National security fears threaten defence takeover

The government is to intervene in a US private equity firm's takeover of UK defence and aerospace firm Cobham, citing national security concerns. Advent International made a £4bn offer to buy Cobham in July and shareholders approved the deal last month. Cobham's founding family raised concerns about the company's future and its connections with UK defence. "Following careful consideration of the proposed takeover of Cobham, I have issued an intervention notice on the grounds of national security," said Business Secretary Andrea Leadsom. Dorset-based Cobham, which employs 10,000 people, is known for pioneering technology enabling the mid-air refuelling of planes.

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