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July 25, 2019, 8:13 a.m. EDT

Cobham agrees $5 billion cash offer by Advent

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By Ian Walker

U.K. defense and aerospace company Cobham PLC (COB.LN) said Thursday that it has agreed at 4 billion pound ($5 billion) cash offer by Advent International Corp. .

Under the offer accepting shareholders will get 165 pence in cash, a 34% premium to its closing share price of 122.75 pence on Wednesday.

The deal, which is subject to shareholder and approval, is expected to complete by the end of this year.

Write to Ian Walker at ian.walker@wsj.com

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