London intervenes to review $5 billion purchase of U.K. defense firm Cobham by American private equity outfit
LONDON—The U.K. halted the $5 billion sale of a British defense firm to an American investor on national security grounds, pending further government review, in a rare move for a country that hasn’t typically inserted itself in big, cross-border deal making.
The intervention comes as critics of the deal for Cobham PLC—which makes air-to-air refueling systems and communications equipment for military and commercial planes-—have said the deal is counter to national interest and undervalues the company. Some lawmakers and the...
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