The government has been accused of handing control away after it approved a US private equity firm’s £4bn takeover of the UK defence company Cobham despite national security concerns. Cobham, which is based in Dorset and employs 10,000 staff, is considered a pioneering world leader in air-to-air refuelling technology. Advent’s offer to purchase Cobham was approved by shareholders in August, but delayed in September when the government intervened on national security grounds. Leadsom said: “This decision has been meticulously thought over, and I have taken advice from the defence secretary, the deputy national security adviser and government officials across multiple departments. “It is deeply concerning that the Conservative government is allowing this sale to go ahead, despite previously cited concerns that it could undermine our national security.

Source: The Guardian December 21, 2019 07:26 UTC