UK govt threatens to ground £4bn Cobham buyout
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.
“Following careful consideration of the proposed takeover of Cobham, I have issued an intervention notice on the grounds of national security,” Leadsom said in a statement on Wednesday.The Competition and Markets Authority (CMA) has until October 29 to carry out a review on the deal and report back ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com