share price: The FTSE 250 company's board will unanimously recommend the takeover to shareholders, according to The Guardian. The shares rose 35% to 166p on Thursday after the takeover was announced. Advent International has agreed to pay Cobham's shareholders 165p in cash for each of their shares 34% more than the company's closing share price on Wednesday. Cobham employs about 10,000 people, including 2,000 in the UK, and operates in more than 100 countries. The company was founded as Flight Refuelling Ltd in 1934 by Sir Alan Cobham, a pilot in the first world war who became a trailblazer of long-distance flying. The company supplies radar and other electronic products for the defence and aviation industries including world-leading systems that allow planes to refuel in mid-air.
(news.financializer.com). As
reported in the news.
Tagged under share price, company topics.