Tue. Sep 29th, 2020

UK poised to approve £4bn US takeover of defence firm Cobham

Private equity group Advent to address security concerns raised by Andrea Leadsom

The government is set to wave through the £4bn takeover of the British defence company Cobham by Advent after the US private equity group offered to address national security concerns.

The business secretary, Andrea Leadsom, on Tuesday announced that the government would consult on legally binding steps to be taken by Advent, adding she was “minded to accept” the undertakings – despite objections expressed to competition regulators by unnamed parties about the private equity firm’s potential short-term hunt for profits.

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