(Adds background and response from Advent)
Sept 13 (Reuters) - U.S. private equity firm Advent
International is set to clinch its 4 billion pound ($4.99
billion) takeover of defence and aerospace group Cobham Plc
after Advent received support from more than 75% of
shareholders, the Financial Times reported on Friday.
The tally is based on the number of proxy votes already cast
ahead of a crucial shareholder vote on Monday, the FT reported https://on.ft.com/31kBOgj,
citing people familiar with the situation.
Advent agreed to pay 4 billion pounds to buy the British
defence and aerospace group known for its pioneering air-to-air
refuelling technology in July.
Advent offered 165 pence in cash for each Cobham share
representing a 50% premium to the three-month average price at
that time.
The acquisition requires 75% shareholder approval. Cobham
said that shareholder Artemis Investment Management, which holds
a 5.13% stake, would back the deal, which Cobham's directors
recommended unanimously.
The biggest investor in Cobham, Silchester International
Investors, said in July that it did not consider Advent's offer
"compelling".
Advent said it had no comment on the report, while Cobham
did not immediately respond to a request for comment.
($1 = 0.8019 pounds)
(Reporting by Aakriti Bhalla in Bengaluru; Editing by Rosalba
O'Brien and Daniel Wallis)
