Private equity swoops on British defence giant: Ministers told to block £2.6bn takeover of Ultra Electronics by Cobham owner Advent
The defence group s board said it was minded to back the offer of 3500p per share from US buyout firm Advent
The approach by Advent came through Cobham, another UK defence firm it bought last year in a bitterly-contested deal
Any deal is likely to trigger an official review due to the highly-sensitive technology Ultra supplies to the armed forces, particularly the Royal Navy
In a bid to ensure the deal goes through, Advent has said it is prepared to make national security undertakings
Private equity swoops on British defence giant Ultra Electronics
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In the manner of a latter-day Boudica, she saw it as her sacred duty to defend the valuable aerospace and satellite skills for the sake of Britain.
Lady Cobham was falsely accused by her critics in the financial community – anxious to buy and break-up Cobham whatever the costs to UK plc – of only being interested in aggrandising the family name. Nothing could be further from the truth. If this was another country, the deal would not have been allowed, Lady Cobham says of the £4billion takeover.
The company was founded in 1934 by her father-in-law, who was believed to be the inspiration for WE Johns s fictional pilot and adventurer, Biggles.
Lady Cobham slams break-up of UK aerospace champion
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