UK: Cobham’s largest shareholder fights US$4.7B Advent deal

The largest shareholder in Cobham has come out against the company’s agreed £4 billion (US$4.96 billion) takeover by US private equity fund Advent International, arguing that it does not see the deal as “compelling,” reported the Financial Times.

Silchester International, which owns 11.83% of the FTSE 250 aerospace and defense group, stated it was urging management to “seek and respond to other parties who might offer better value to the stakeholders of Cobham”.

The fund claimed Cobham, one of Britain’s oldest engineering groups which has undergone a restructuring under its current management led by David Lockwood, had had its balance sheet restored by public shareholders and that the fruits of the turnround would flow through in the next few years.

Full Content: Financial Times

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