UK approves £4bn US takeover of defence company Cobham

The government has approved a US private equity firm's takeover of UK defence and aerospace company Cobham, reports BBC. Advent International made a £4bn offer to buy Cobham in July, but it was delayed when the government intervened over national security concerns. The government announced its approval of the deal late on Friday night - which the firm's founding family said was "timed to avoid scrutiny".
UK PM Boris Johnson said the UK remained a "dynamic" part of the defence industry.
Cobham, which employs 10,000 people, has extensive contracts with the British military and is seen as a world leader in air-to-air refuelling technology.
The firm, based in Wimborne, Dorset, also makes electronic warfare systems and communications for military vehicles.
Its expertise played a significant role in the Falklands War, allowing the Royal Air Force to attack the remote Port Stanley airfield.