(Alliance News) - Cobham Ltd late Friday confirmed that it is currently considering a possible combination with Ultra Electronics Holdings PLC, with a view to creating a "global defence electronics champion".
Ultra and Cobham both share advanced complementary capabilities delivering mission critical solutions to the US, UK and other key allies, Conham noted.
A number of structures are under consideration to effect such a combination, Cobham said, including a contribution of Cobham into Ultra in exchange for new Ultra shares or a possible offer for Ultra by Cobham.
Ultra shares closed 6.7% higher in London on Friday at 2,300.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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