The move would further extend the private equity industry’s grip on British aerospace
Defence manufacturer Ultra Electronics is on the verge of accepting a takeover offer from rival Cobham, in a move that would further extend the private equity industry’s grip on the British aerospace sector.
Ultra said on Friday it had received a takeover bid of £35 per share from Cobham, which is owned by American private equity group Advent. The bid would value Ultra at £2.6bn, 60% higher than its valuation when Cobham first made a bid last month at the lower price of £28 per share.
