Future Of British Business
UK Government Leans Toward Approving Cobham’s Ultra Takeover
- Business Secretary to decide matter after final consultation
- Undertakings include entities for sensitive government work
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The UK government said it is “minded to accept” Cobham Ltd.’s planned takeover of fellow British defense-technology specialist Ultra Electronics Holdings Plc rather than referring it for further investigation.
Draft undertakings made by US-owned Cobham to address national-security concerns have been published and Business Secretary Kwasi Kwarteng will consider any representations made before making a final decision, according to a statement Thursday. Ultra shares rose almost 13% in early trading Friday.