Business Secretary intervenes in Cobham’s £2.6bn bid for Ultra Electronics on national security grounds Business Secretary intervenes in Cobham's £2.6bn bid for Ultra Electronics Business Secretary Kwasi Kwarteng has stopped the planned £2.6bn acquisition of defence firm Ultra Electronics by rival US-owned Cobham, to investigate possible national security risks from the merged entities. The Competition and Markets Authority will now prepare a report on the proposed transaction. Customers of Ultra, which sells torpedo and radar systems and a range [...]
Cobham and Ultra Electronics reach £2.6bn deal with UK jobs guarantee to assuage ministers Cobham and Ultra Electronics ink £2.6bn deal with job plan to sway minister The boards of Cobham and Ultra Electronics have agreed terms of a £2.6bn takeover deal, that caused national security concerns for Business Secretary Kwasi Kwarteng last month. Cobham said the board at defence and engineering firm Ultra had backed backed the 3,500p per share that values it at £2.57bn. Shares in Ultra jumped out of [...]
Cobham locks on to rival Ultra with £2.6bn takeover offer Cobham locks on to rival Ultra with £2.6bn takeover offer The board of defence firm Ultra have this morning signalled their approval of a £2.6bn takeover bid from rival FTSE 250 company Cobham. In a statement, the firm said that it had received a £35.00 per share non-binding offer from Dorset-headquartered Cobham, which it said was “at a value the Board would be minded to [...]
Ultra’s profits soar after increase in defence spending at home and abroad March 10, 2020 Electronics group Ultra has posted a 113 per cent increase in profits due to new orders. Shares in the company have risen 10.81 per cent as a result to 2,112p. The FTSE 250 listed company released its results for year ending 2019 showing profit before tax had risen to £91m in 2019 from £42.6m in [...]
Ultra Electronics shares jump as firm benefits from increased US defence spend August 7, 2019 Defence engineering firm Ultra Electronics jumped 9.7 per cent today after it hiked its interim dividend. The FTSE 250 company enjoyed growing profit, revenue and orders in a “solid” first six months of the year. The figures In the first half of 2019, pre-tax profit rose to £37.9m, almost doubling from £20m the same time [...]
Ultra Electronics Holdings enhances war capabilities in $265m Kratos Defence bid June 1, 2015 UK defence firm Ultra Electronics Holdings announced it had agreed to acquire the electronic products division (EPD) of Kratos Defence and Security Solutions yesterday for up to $265m (£174m). Ultra Electronics said the acquisition will strengthen its position in the growing market of electronic warfare and provide long-term contracts to boost its order book visibility. [...]
Ultra lands $21m from General Dynamics Electric Boat Corporation June 23, 2014 Defence, security and transport firm Ultra Electronics has announced that its EMS Development Corporation Business has won a multi-year contract worth over $21m from General Dynamics Electric Boat Corporation. The deal is for the production of naval computer-controlled power supply systems, with delivery to take place over the next five years. The FTSE 250 company [...]