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.
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