|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.0100 - 2.0100|
|52 Week Range||1.2200 - 2.1700|
|Beta (3Y Monthly)||0.16|
|PE Ratio (TTM)||15.83|
|Forward Dividend & Yield||0.01 (0.26%)|
|1y Target Est||N/A|
Britain will investigate the national security impact of the purchase of defence company Cobham by U.S. private equity firm Advent International, potentially delaying or even blocking the $5 billion deal. Business minister Andrea Leadsom's move on Wednesday is not unusual where there are potential security concerns, and follows British government intervention in the pending acquisition of satellite group Inmarsat by an international private equity consortium that includes U.S. firm Warburg Pincus. Leadsom has issued a European intervention notice, calling for a report from the Competition and Markets Authority (CMA) by Oct. 29 to determine whether Cobham, the maker of air-to-air refuelling equipment, should be sold.
The U.K. government has ordered an investigation into the £4 billion acquisition of defense manufacturer Cobham by U.S. private equity firm Advent International on national security grounds.
Cobham became the latest British company to fall into foreign hands after U.S. buyout group Advent International clinched its £4 billion ($5 billion) takeover bid for the historic defence and aerospace supplier.
U.S. private equity firm Advent International won its battle to buy Britain's Cobham for $5 billion on Monday, taking advantage of the weak pound to pounce on the defence and aerospace group that pioneered air-to-air refuelling. Chairman Jamie Pike told a shareholder meeting the management had "pushed as hard as they could push" and engaged in some "arm wrestling" before finally settling on a price that marked a 50% premium to the three-month average share price before the deal was announced. Cobham, based in Wimborne Minster, south-west England, is the latest European company to be bought by a private equity firm seeking a home for their bumper cash balances.
U.S. private equity firm Advent International is set to clinch its 4 billion pound ($4.99 billion) takeover of defence and aerospace group Cobham Plc after Advent received support from more than 75% of shareholders, the Financial Times reported on Friday. Advent agreed to pay 4 billion pounds to buy the British defence and aerospace group known for its pioneering air-to-air refuelling technology in July. Advent offered 165 pence in cash for each Cobham share representing a 50% premium to the three-month average price at that time.