Cobham Plunges in London After Boeing Withholds Tanker Payments
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Cobham Plc dropped by the most in about 1 1/2 years in London trading after the defense and aerospace manufacturer disclosed that Boeing Co. was withholding some payments in a dispute linked to the U.S. company’s tanker program.
Boeing has made “as yet unquantified damages assertions,” which Cobham is challenging, the Wimborne, England-based company said in a statement Thursday.