Notice

Proposed acquisition of Cobham PLC by AI Convoy Bidco Limited: Deed of covenant and undertaking

Notice relating to proposed acquisition of Cobham PLC by AI Convoy Bidco Limited

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Proposed acquisition of Cobham PLC by AI Convoy Bidco Limited: Deed of covenant and undertaking

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Recommended cash acquisition of Cobham PLC by AI Convoy Bidco Limited

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Details

Separate to the public interest intervention and the mitigation of national security concerns, the discussions about the economic implications with the parties have concluded. The parties have made post-offer undertakings to the Takeover Panel to:

  • maintain Cobham’s headquarters in the UK for each of its each of its Communications & Connectivity, Aviation Services UK and Missions Systems UK businesses
  • continue the use of Cobham as a registered name in the UK
  • ringfence the level of research and development spend in the UK

The parties have made a further legally binding commitment to the Business Secretary to significantly protect jobs.

Updates to this page

Published 20 December 2019

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