The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksULE.L Share News (ULE)

  • There is currently no data for ULE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK government approves acquisition of Ultra Electronics by Cobham

Thu, 07th Jul 2022 11:44

(Alliance News) - Ultra Electronics Holdings PLC on Thursday said that its acquisition by Cobham Group Holdings Ltd has received all antitrust and regulatory approvals.

Back in August last year, Ultra agreed to a GBP2.57 billion takeover offer from former London listing Cobham. Cobham said it would pay GBP35.00 per share in cash for Ultra.

In June, UK Business Secretary Kwasi Kwarteng launched a consultation into the undertakings offered by Cobham to acquire Ultra, which makes submarine-hunting equipment as well as control systems for the fleet of Trident submarines that carry the UK's nuclear deterrent. The deal was originally held up on national security grounds.

Aerospace contractor Cobham was a FTSE 250 company before it was bought by private equity firm Advent International in January 2020 in a controversial deal which had sparked debate over UK national security.

On Wednesday, Kwarteng gave the acquisition the green light to proceed.

The acquisition remains subject to other conditions, including sanction by the court which is expected to take place on July 28.

Shares in Ultra Electronics were up 2.2% to 3,492.00 pence each in London on Thursday around midday.

By Sophie Rose; sophierose@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
23 Jul 2021 18:46

LIVE MARKETS-Recovery in sight from the shortest-ever recession

* U.S. stock indexes higher, on track for weekly gains* S&P, Nasdaq on course for all-time closing highs* Communication services leads sector gains; energy only loser* Dollar, crude up slightly; gold down; bitcoin dips* U.S. 10-yr Treasury yield ~1....

Read more
23 Jul 2021 18:17

LIVE MARKETS-August is not what it used to be

* U.S. stock indexes higher, on track for weekly gains* Communication services leads sector gains; energy only loser* STOXX closes up 1.1%* Dollar, crude up slightly; gold down; bitcoin dips* U.S. 10-yr Treasury yield ~1.29% Welcome to the home for...

Read more
23 Jul 2021 17:34

LIVE MARKETS-S&P 500, Nasdaq hit records as Twitter, Snap jump

* U.S. stock indexes higher, on track for weekly gains* Communication services leads sector gains; energy only loser* STOXX up 1.1%* Dlr up slightly; gold down; crude near flat; bitcoin inches up* U.S. 10-yr Treasury yield ~1.28% Welcome to the ho...

Read more
23 Jul 2021 16:52

LONDON MARKET CLOSE: FTSE tops 7,000 points as European equities jump

LONDON MARKET CLOSE: FTSE tops 7,000 points as European equities jump

Read more
23 Jul 2021 16:50

LIVE MARKETS-Wait for "golden cross" signal for further dollar gains – BofA

* U.S. stock indexes higher, on track for weekly gains* Communication services leads sector gains; energy sole loser* STOXX up 1.0%* Dollar up slightly; gold, crude down; bitcoin inches up* U.S. 10-yr Treasury yield ~1.29% Welcome to the home for r...

Read more
23 Jul 2021 15:36

LIVE MARKETS-Paradigm shift: Services sector loses steam, manufacturing gains momentum

* U.S. stock indexes higher, on track for weekly gains* Energy down most among S&P sectors; comms svcs up most* STOXX up 1.0%* Dollar up slightly; gold, crude down; bitcoin inches up* U.S. 10-yr Treasury yield ~1.28% Welcome to the home for real-tim...

Read more
23 Jul 2021 15:36

LIVE MARKETS-Paradigm shift: Services sector loses steam, manufacturing gains momentum

* U.S. stock indexes higher, on track for weekly gains* Energy down most among S&P sectors; comms svcs up most* STOXX up 1.0%* Dollar up slightly; gold, crude down; bitcoin inches up* U.S. 10-yr Treasury yield ~1.28% Welcome to the home for real-tim...

Read more
23 Jul 2021 14:59

LIVE MARKETS-Inflation in focus for next week’s FOMC meeting

* U.S. stock indexes higher* Energy down most among S&P sectors; comms svcs gains most* STOXX up 0.9%* Dollar up slightly; gold, crude down* U.S. 10-yr Treasury yield ~1.29% Welcome to the home for real-time coverage of markets brought to you by Re...

Read more
23 Jul 2021 14:16

LIVE MARKETS-U.S. stock index fuures rise, lifted by earnings

* U.S. stock index futures higher early* STOXX up 0.9%* Dlr up slightly; gold, crude down; U.S. 10-yr Treasury yield 1.30% Welcome to the home for real-time coverage of markets brought to you by Reuters stocks reporters.U.S. STOCK INDEX FUTURES R...

Read more
23 Jul 2021 13:01

LIVE MARKETS-Valuation is where the weakness is

* European stock on the rise* Autos led gains up 2.7%, miners up 1.8%* Shares in Ultra Electronics jump 33% on Cobham takeover offer* ASML shares hit fresh record Welcome to the home for real-time coverage of markets brought to you by Reuters stoc...

Read more
23 Jul 2021 12:35

LIVE MARKETS-Bank stocks follow bond yields, but...

* European stock on the rise* Autos led gains up 2.5%, miners up 1.5%* Shares in Ultra Electronics jump 33% on Cobham takeover offer* ASML shares hit fresh record Welcome to the home for real-time coverage of markets brought to you by Reuters stoc...

Read more
23 Jul 2021 12:24

LONDON MARKET MIDDAY: FTSE 100 set for weekly gain as extends recovery

LONDON MARKET MIDDAY: FTSE 100 set for weekly gain as extends recovery

Read more
23 Jul 2021 12:19

LIVE MARKETS-Anxiety remedy

* European stock on the rise* Autos led gains up 2.4%, miners up 1.6%* Shares in Ultra Electronics jump 33% on Cobham takeover offer* ASML shares hit fresh record Welcome to the home for real-time coverage of markets brought to you by Reuters stoc...

Read more
23 Jul 2021 09:58

UPDATE 2-Consumer staples, miners lift London's FTSE 100; Vodafone surges

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Vodafone jumps on strong earnings* UK retail sales gain in June* Beazley, Ultra Electronics push mid-caps higher* FTSE 100 up 0.9%, FTSE 25...

Read more
23 Jul 2021 08:44

LONDON MARKET OPEN: FTSE 100 adds 50 points as it resumes rebound

LONDON MARKET OPEN: FTSE 100 adds 50 points as it resumes rebound

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.