Cobham reassures investors over OFT statement

Defence firm Cobham released a statement on Tuesday regarding its forthcoming acquisition of Thrane and Thrane and an announcement made by the Office of Fair Trading (OFT).

Cobham said it notes that announcement made by the OFT in which it invites comments on the acquisition of Thrane & Thrane and was keen to emphasise that this is standard procedure in such merger considerations.

"OFT approval was not required and was not a condition to the closing of the offer and the consequent acquisition of approximately 97% of the shares, which has now completed.

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"Cobham will work with the OFT to facilitate its process and remains confident that the transaction, which does not have a significant proportion of its business in the UK, does not give rise to any competition issues."

Cobham's share price rose 0.4% to 225.90p by 13:32.

NR