- The bid is a premium of 42 per cent to Ultra’s last closing price
- ‘Put up or shut up’ date has been extended to 20 August
Aerospace and defence company Cobham has made an offer of £35 per share for Ultra Electronics (ULE). The deal would value the company at £2.58bn which equates to a premium of 42 per cent to Ultra’s previous closing price. It is a significant improvement on the £28 per share offer made by Cobham in June and the Ultra board said that it would recommended it to shareholders subject to the establishment of safeguards for its stakeholders.