Advent International completed the acquisition of Cobham, a provider of technologies and services to solve challenging problems in commercial, defense and security markets, for £4bn. "Cobham has leading positions in a number of attractive technology markets, with capabilities and know-how that are well aligned with our customers' priorities. The Cobham management team's turnaround actions over the last two and half years have begun to improve our performance, which is reflected in our 2019 interim results announced today. We believe that Advent would provide a complementary partner for Cobham's stakeholders. The Cobham Board is unanimously recommending the offer from Advent as it represents an opportunity for shareholders to realize their investment in Cobham in cash in the near term. The offer represents a 50.3% premium to the average share price over the last three months," Jamie Pike, Cobham Chairman.