UK govt threatens to ground £4bn Cobham buyout

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UK govt threatens to ground £4bn Cobham buyout

Karoliina Liimatainen
September 18, 2019 04:30 PM
Cobham_F35_PA_230x150
File photo dated 08/07/2016 of a Lockheed Martin F-35 Lightning II which uses over 100 Cobham components, as the struggling aerospace and defence firm issued another profits warning after revealing that it would book a mammoth £574 million writedown and take a £150 million hit from a US military contract. | Chris Radburn/PA Wire/PA Images

The £4bn take-private of UK aerospace and defence company Cobham by US private equity firm Advent, backed by a £2.5bn debt package, was threatened this week when business secretary Andrea Leadsom ordered an investigation into the deal just after 93% of the shareholders voted to accept the deal.

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