Deals
U.K. to Review Advent’s Ultra Takeover on Security Grounds
- Business secretary orders probe of U.S. private-equity deal
- Defense group helps equip Britain’s Trident nuclear submarines
Business Secretary Kwasi Kwarteng
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The British government ordered a probe into the proposed purchase of defense-technology specialist Ultra Electronics Holdings Plc by U.S. buyout firm Advent International Corp., citing national security concerns.
Business Secretary Kwasi Kwarteng issued a Public Interest Intervention Notice regarding the 2.57 billion-pound ($3.6 billion) agreed takeover by Advent’s Cobham Ltd. arm, according to a statement Wednesday.