UK, Cobham Mulling Fixes For £2.57B Defense Company Deal

By Nadia Dreid (April 29, 2022, 7:06 PM EDT) -- The United Kingdom's business secretary is willing to see what conditions private equity-backed technology company Cobham is offering before pushing for a more in-depth competition probe into its £2.57 billion ($3.24 billion) plan to buy defense company Ultra Electronics.

Business Secretary Kwasi Kwarteng revealed Thursday that he would wait to hear what the companies were willing to offer to assuage his competition and national security concerns before he decided whether to refer the proposed merger for a so-called Phase 2 probe.

The Department of Business, Energy and Industrial Strategy has the power to intervene in the Competition and Markets Authority's investigation...

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