Private Equity

UK open for business as Advent wins £4bn battle for Cobham

Advent International’s pursuit of the defence manufacturer has raised concerns about take-privates in the UK

UK open for business as Advent wins £4bn battle for Cobham
Photo: Getty Images

Shareholders have approved the £4bn sale of Cobham, one of the UK’s oldest aerospace and defence companies, to US private equity firm Advent International.

The deal, one of the biggest public-to-privates of a UK-listed company this year, has been a test of how open Britain will be to foreign takeovers in a post-Brexit world.

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