Advent International

---

to intervene

The government, in a U.S. private-equity firm in the acquisition of The British defence and aerospace company Cobham, citing National Security concerns.

Advent International made a £4bn offer to buy Cobham In July , and shareholders approved The Deal last month.

But Cobham ' s founding family concerns about the future of The Company and of its connections with The British defense.

The government said it wanted to "support private-sector innovation, while safeguarding the interests of the public".

the Dorset-based Cobham, which employs 10,000 people, is known for its groundbreaking technology, the tools, the air to air refuelling flight. The Company also makes the electronic warfare and communication systems for military vehicles.

What has been said by the government?

"after careful consideration of the proposed acquisition by Cobham, which I've spent a intervention with regard to the reasons of National Security ," said Business Secretary Andrea Leadsom .

The Competition and markets authority (CMA) investigation and implementation of a review on the National Security implications of the transaction.

The government has The Power to veto the thing, if the CMA, there are plenty of concerns.

It must report the results of its decision of 29 October.

Since 2002, the government have given any thought to, 16 interventions on acquisitions, of which nine were due to National Security concerns. None of these offers have so far been blocked.

"Advent is a responsibility committed to the full Cobham, encouraging their future growth and success. We will continue to constructively and co-operatively with The British government in this part of the examination," said an Advent spokesperson.

Why is The Deal controversial?

The defense technology company has a rocky time after the exhibition, a series of profit warnings in the year 2016 and 2017, where it is shareholders to increase the funding of their share.

Cobham has extensive contracts with The British military, including air-to-air aircraft refueling, electronic warfare systems and training Military Personnel on the use of software platforms, such as missile destroyers and fighter jets.

Mrs. Nadine Cobham, 76, The Widow of Sir Michael Cobham, who, The Company built more than 25 years, recently spoke about their concerns about the takeover offer, say, the Cobham "deserves to be protected" by the government.

"It is a favourable moment to plunge for the season of Advent and the reality is that The Advent of breaking Cobham and sell their parts to the highest bidder.

"The air-to-air refueling, this is a real surprise," She Said . She also said she would not accept, Advent assured that it would Cobham, the UK and the US maintain headquarters and further investments in The Company 's research and development efforts.

the offer Is finally?

proved to have the Successive governments that they are intensely relaxed about foreign ownership of important bits of The British infrastructure.

Our energy and water supply, ports and airports are all owned by foreign investors. Relaxed attitude has extended even to the defence, particularly, if The Foreign holders of Nato countries.

Boeing, the US defence contractor, offering all kinds of kit, including Chinook helicopters of The British armed forces, while the new F-35 Lightning, the cutting of The Royal Air Force , is by an American contractor, Lockheed Martin .

This is the reason why This Morning 's intervention by Andrea Leadsom taken many by surprise. There is no wave of Public Opinion against The Advent offer for Cobham, despite The Best efforts of the founding family, with the whip. A US buyer for a supplier of defence kit does not can be thought to increase, and many matters of National Security .

But city sources pointed out This Morning , the silence should not be mistaken for a lack of activity. Mrs Leadsom could not have intervened to affect during the offer, to hate and to Live - governments commercial processes - But she was free to do so as soon as Cobham shareholders approved The Deal on Monday.

Meanwhile, defence experts say, that Cobham ' s specialty, air-to-air refueling, could well be seen as a matter of National Security . It is impossible to fight a Modern War without the ability to keep aircraft in the air for long periods of time.

When The Royal Air Force had to find a way, to the attack on Port Stanley airfield in the short term, during the Falklands War , Cobham engineers made it possible.

Cobham is also the undisputed world market leader in the area, something that will give British industry a large Entree for defense contracts around The World .

Most people think that in the end, The Advent Deal - But that the CMA investigation will result in legally binding obligations of Cobham to keep skills in research and development here in the UK.

Is the government intervene often?

Since 2002, the government have given any thought to, 16 interventions on acquisitions, of which nine were due to National Security concerns.

The government is still looking into a business to sell Inmarsat to a consortium of private equity funds

In July , the government decided to intervene in a other defence and aerospace industry Deal - the £2. 7bn acquisition of the satellite communications operator Inmarsat, a consortium of private equity funds. The probe is still in progress.

The Move came after new laws introduced in November to block Making It easier for The Authorities to take-over bids, where there is a risk of technology acquired by foreign companies.

Inmarsat operates a satellite, the management of critical government communications for the UK and several other countries, in particular in rescue operations, naval operations and border control.

What are the offers relates to the CMA have been investigated so far for the National Security ?

so far, the government has looked in nine acquisition deals because of concerns about National Security :

ministry of defence, companies, national security, cobham

Source of news: bbc.com