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Birmingham Post

Business

Holly Williams, PA Business Editor & Hannah Baker

Ultra share price rises after Government paves way to clear £2.6bn Cobham takeover

Ultra Cobham Kwasi Kwarteng National Security Advent United Kingdom

UK defence business Ultra Electronics has seen its shares soar after the Government said it was set to clear the firm’s £2.6bn takeover by Cobham.

Shares in Ultra surged 13% on Friday (June 24) after Business Secretary Kwasi Kwarteng said on Thursday night he was minded to accept the takeover of Ultra after both firms put forward solutions to address national security concerns.

It follows a 10-month inquiry into the proposed acquisition of the company to assess any national security concerns.

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