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Private Equity Firm Advent International To Acquire Britain’s Cobham For $5 Billion

Cal Biesecker By
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Private Equity Firm Advent International To Acquire Britain’s Cobham For $5 Billion
Boeing's KC-46 aerial refueling tanker for the U.S. Air Force. Cobham provides a number of systems and subsystems for the aircraft, including the centerline drogue system and wing air refueling pods. Photo: Cobham

United Kingdom-based aerospace and defense company Cobham plc on Thursday said it has entered into an agreement to be acquired by the U.S.-based global private equity firm Advent International for $5 billion in cash. Advent’s offer price for Cobham is 165 pence, representing a 34 percent premium to the company’s closing price on Wednesday of 123 pence per share. The deal must be approved by regulators in the U.S. and European Union, as well as the U.K., Australia, France and…

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