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HomeNewsWorldDefence Firm Cobham to Buy Ultra Electronics for £2.57 billion

Defence Firm Cobham to Buy Ultra Electronics for £2.57 billion

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Defence Firm Cobham to Buy Ultra Electronics for £2.57 billion

Shareholders in Ultra, which has British and US government clients, will get 35 pounds per share under the terms of the is next, which was reported in late July.

Well Renowned Defence Firm Cobham said on Monday that it has agreed to purchase Ultra Electronics in a transaction valued at 2.57 billion pounds ($3.56 billion), with promises to alleviate any potential national security issues.

Shareholders in Ultra, which has British and US government clients, will get 35 pounds per share under the terms of the planned acquisition, which was originally reported in late July.

Cobham, which is owned by the American private equity firm Advent, has stated that it will work with the British government to agree on the specific terms, duration, nature, and form of its binding commitments, which will take effect immediately after the deal closes to protect Ultra’s businesses and stakeholders.

“Cobham recognizes the critical importance of Ultra’s contribution to the UK economy and national security,” Cobham stated.

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