Consultation launched on proposed acquisition of Ultra Electronics Holdings plc by Cobham Ultra Acquisitions Limited

24 Jun 2022 02:26 PM

A consultation on steps to address the national security concerns raised by the proposed acquisition of Ultra Electronics Holdings plc, a UK defence company, by Cobham Ultra Acquisitions Limited was yesterday launched by the government.

Cobham Ultra Acquisitions Limited is a defence, aerospace and communications company that was acquired by US private equity firm Advent International Ltd (Advent) in January 2020.

The Business Secretary is minded to accept undertakings offered by Cobham Ultra Acquisitions Limited to address the concerns.

This decision follows advice from the Ministry of Defence.

The proposed undertakings are now out for public consultation until midnight at the end of 3 July 2022, in accordance with the process set out in the Enterprise Act 2002.

No decision will be taken by the Business Secretary until the consultation has concluded and the representations have been carefully considered.

The full text of the proposed undertakings can be found on GOV.UK. In summary they would deliver:

This decision on the national security considerations is separate to any discussions on the economic implications of the proposed merger.

The Business Secretary’s decision is made in a quasi-judicial capacity, which means that he must act, and be seen to act, in a scrupulously fair and impartial manner.