Defence giant Cobham agrees £4bn US private equity takeover

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 67%

United Kingdom Headlines News

United Kingdom Latest News,United Kingdom Headlines

The group, which makes air-to-air refuelling and communications systems for the military, has faced difficulties in recent years.

US private equity firm Advent International has won its battle to buy defence and aerospace group Cobham for $5bn , joining a growing list of overseas suitors taking advantage of the weak pound to pick up highly-rated British companies.

Cobham chairman Jamie Pike told a shareholder meeting on Monday that management had"pushed as hard as they could push" and engaged in some"arm wrestling" before finally settling on a price that marked a 50% premium to the three-month average share price before the deal was announced. The deal was agreed at 165p per share, in the latest of a series of British buyouts in as private equity firms seek new targets for their bumper cash balances.The takeover was supported by 93.22% of shareholder votes.Cobham, based in Wimborne Minster, Dorset, is latest European company to be bought by a private equityThe group, which employs 10,000 people to make its pioneering air-to-air refuelling system and communications for military vehicles, has faced difficulties in recent years.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Embarrassing! Need to keep these top British companies British!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in UK

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New species of flying dinosaur the size of small plane identified in CanadaImagine a ‘giant flying murder head’ about 3.5 times the length of its body, expert says That's not a dinosaur! RRREEEEEE Torontosaurus? Pterosaurs aren’t dinosaurs. Reported.
Source: The Independent - 🏆 80. / 59 Read more »

Famous Or Not, Women Should Feel Free Nudes Without Fearing Hackers'Famous Or Not, Women Should Feel Free Nudes Without Fearing Hackers' RebeccaCNReid
Source: GraziaUK - 🏆 15. / 78 Read more »

How can we remortgage when my husband is aged 62?We can’t find an affordable deal from a bank due to his age, despite having a lot of equity Idk but doesn't that mean the mortgage options might change? Dear, there are cases and cases, for instance depend also about the local laws. The risk of death can be covered by family, healthy situation, mortgage additional used as collateral,and if for instance in case of death the partner will receive a pensions,in order to cover theRest
Source: The Guardian - 🏆 84. / 53 Read more »

Paratroopers win barracks racial harassment claimA judgement rules the men were victims of 'highly offensive' graffiti at their Colchester barracks. More fake hate crimes🤔 'the barracks having being decorated with Nazi flags.' :) Here come the banter police again
Source: BBCNews - 🏆 3. / 97 Read more »

As Jesy Nelson revealed, fame is no defence against toxic online attacksIn choosing to engage with social media, trolling victims fuel a poisonous narrative this headline blames the victim vivodilittlemix It probably encourages it. People are envious and spiteful.
Source: The Guardian - 🏆 84. / 53 Read more »

Trump floats possible defense treaty days ahead of Israeli electionsTrump appeared to try to buttress Benjamin Netanyahu’s effort to remain in power by showcasing his close ties to the White House Shame shame shame Bibi is corrupt and fox thought politician and he spread his smartness.nationalism is for winning election IsraElex19v2 bibinetanyahu I guess the senile doesn't know he's being spied on by Bibi
Source: The Guardian - 🏆 84. / 53 Read more »