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Advent International £4 billion acquisition of Cobham

25/7/2019
Public acquisition
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£ 4 billion

$ 4.981 billion

Announced

25/7/2019

Overview:

  • US private equity firm Advent International has acquired UK aerospace and defence firm Cobham in a £4 billion all cash deal.
  • The deal will be enacted via AI Convoy Bidco and Cobham shareholders will receive 165p per share.
  • FTSE 250 listed Cobham is based in Dorset in the UK and employs 10,000 people and operates in more than 100 countries.
  • The company primarily manufactures radar and electronic products for the aviation and military sectors.
  • Rothschild advised Cobham on the deal along with Bank of America and JPMorgan.
  • Advent were advised by Goldman Sachs, Citigroup and Credit Suisse.

Sam Duke

 

Jurisdictions:

United States
United Kingdom

Deal type:

Public acquisition

Practice areas:

Private equity
M&A

Industry sector:

Defence

Firms:
A&O Shearman

Party: Cobham (Target)

Lawyers: Michael Mountain, Richard Browne, Seth Jones

Linklaters

Party: Advent International (Acquirer)

Lawyer: Chris Boycott

Norton Rose Fulbright

Party: Goldman Sachs (Financial adviser)

Party: Citigroup (Financial adviser)

Lawyers: James Dunnett, Paul Whitelock

Paul Hastings

Party: Credit Suisse (Underwriter)

Party: Goldman Sachs (Underwriter)

Party: Citibank (Underwriter)

Lawyers: Edward Holmes, Luke McDougall

Weil Gotshal & Manges

Party: Advent International (Borrower)

Lawyers: Jonathan Wood, Tom Richards

White & Case

Party: GSO Capital Partners (Lender)

Lawyers: Colin Harley, Gareth Eagles, Marcus Booth, Patrick Sarch, Philip Broke

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