Ultra Electronics Holdings

Ultra Electronics British is a 1920 developer electronic engineers for. military needs The number of employees is 4,500 (as of 2021).

History

2021: Cobham bought Ultra Electronics for $3.6 billion

In mid-August 2021, Cobham announced the purchase of Ultra Electronics for $3.6 billion. Cobham promised to save jobs in the UK and not pose a threat to the country's national security.

The government is aware of the alleged purchase of Ultra Electronics by Cobham. Although this is a commercial issue for the participating companies, we are closely monitoring the transaction, "commented a representative of the British government.

The decision to control the proposed sale of Ultra Electronics was made by another business minister, Quasi Kwarteng. The Government may intervene in mergers on the basis of public interest, including national security.

Cobham acquired Ultra Electronics for $3.6 billion

On August 17, 2021, the Ultra board of directors announced that it would recommend approval of Cobham's proposal of $48.53 per share, which estimates the business at about $3.6 billion.

Having reviewed the proposal, Cobham's Board of Directors advised that it was consistent with the value that the Board of Directors was willing to recommend to Ultra shareholders, subject to consideration and satisfactory resolution of other terms and conditions, including the creation of guarantees for the interests of Ultra stakeholder groups.

Cobham was absorbed by the US private investment company Advent International in a controversial deal worth $5.5 billion, which was concluded in early 2020. Opposition politicians and relatives of the founder of the company, Sir Alan Cobham, opposed this deal, but it was approved by the government. Subsequently, Advent sold part of the business, including Cobham, which was purchased by Draken International.^[1]

Notes