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UK approves £4bn US takeover of defence company Cobham

UK approves £4bn US takeover of defence company Cobham

Advent International made a £4bn offer to buy Cobham in July, but it was delayed when the government intervened over national security concerns.The government announced its approval of the deal late on Friday night – which the firm’s founding family said was “timed to avoid scrutiny”.

UK PM Boris Johnson said the UK remained a “dynamic” part of the defence industry.

Cobham, which employs 10,000 people, has extensive contracts with the British military and is seen as a world leader in air-to-air refuelling technology.

The firm, based in Wimborne, Dorset, also makes electronic warfare systems and communications for military vehicles.

Its expertise played a significant role in the Falklands War, allowing the Royal Air Force to attack the remote Port Stanley airfield.