By Adria Calatayud
SECRET SOFTWARE SHOWS WHEN TO
BUY OR SELL!
TRADE WITH CONFIDENCE
The U.K. government said late Wednesday that it is intervening in Ultra Electronics Holdings PLC’s proposed 2.57 billion pounds ($3.53 billion) takeover by Advent International Corp.’s Cobham Group Holdings Ltd. on national security grounds.
The U.K. government said Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng issued a public interest intervention notice to intervene in the deal.
The Competition and Markets Authority will now prepare a report on the proposed transaction which will be submitted to the secretary of state by Jan. 18, the government said.
Ultra Electronics on Monday said it had agreed to a takeover by Cobham Ultra Acquisitions Ltd., as first announced last month.
Write to Adria Calatayud at firstname.lastname@example.org