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British defence supplier Ultra Electronics to be sold for £2.6bn to US-controlled firm theregister.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theregister.com Daily Mail and Mail on Sunday newspapers.
Investegate |Ultra Electronics Announcements | Ultra Electronics: Director/PDMR Shareholding investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
Ministers are under pressure to block the private equity takeover of defence group Ultra Electronics. Former defence secretary Lord Heseltine has slammed the £2.6billion bid from US bidder Advent International, which is acting through Cobham – another British military supplier which it bought last year in a bitterly contested deal. Accusing the business secretary Kwasi Kwarteng of abandoning industrial strategy , the Tory grandee called for rigorous checks to be conducted before any deal is approved. Heseltine, a successful businessman who served under Margaret Thatcher and John Major, said: I have said before that we should have a proper scrutiny process for the purpose of industrial strategy. ....