In collaboration with the American law firm Weil, Gotshal & Manges, Accura has assisted Advent International Corporation ("Advent") in connection with the takeover bid for Cobham plc submitted by Advent.
Cobham plc is listed on the London Stock Exchange and is one of the world's leading manufacturers and service providers of radars and electronic products for the defence, aviation and space industries. Cobham plc employs around 10,000 people and operates in more than 100 countries. In 2012, Cobham plc acquired the Danish company Thrane & Thrane A/S (now called Cobham Satcom) for DKK 2.4bn.
Advent has offered to pay GBP 1.65 in cash per share to Cobham plc's shareholders, equal to a total purchase price of GBP 4bn (DKK 32.5bn).
The transaction is conditional on the usual public authority approvals and on at least 75% of Cobham plc's shareholders accepting the offer.
Cobham plc's board of directors has recommended that Cobham plc's shareholders accept the offer.
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