Britain Orders Probe Into US Takeover Of Defence Group

Business Secretary Kwasi Kwarteng revealed late Wednesday that he has referred the deal to the Competition and Markets Authority (CMA) regulator, which will report back in January next year.

Britain has ordered a probe into the takeover of UK defence technology firm Ultra Electronics by US-owned Cobham in order to assess risks to national security. Business Secretary Kwasi Kwarteng revealed late Wednesday that he has referred the deal to the Competition and Markets Authority (CMA) regulator, which will report back in January next year. "I instructed the CMA to investigate the proposed acquisition of Ultra Electronics by Cobham to assess any national security concerns," Kwarteng tweeted. "The UK is open for business, however foreign investment must not threaten our national security."