The UK government is reviewing the $5 bln acquisition of Cobham by U.S. buyout group Advent. Blocking the sale would imply Britain’s post-Brexit future is more closed than open. edwardcropley writes:
Britain ordered a security review on Sept. 18 of the $5 billion takeover of defence contractor Cobham by U.S. private equity firm Advent International.
Business minister Andrea Leadsom gave the Competition and Markets Authority until Oct. 29 to decide whether the deal, which was recommended by Cobham’s board and approved by its shareholders on Sept. 16, should go ahead. Shares in Cobham slipped 0.6% to 159.5 pence by 0752 GMT on Sept. 18, compared to an offer price of 165 pence.
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