July 25, 2019 / 6:17 AM / a month ago

Advent Intl agree to buy UK engineer Cobham for $5 bln

LONDON, July 25 (Reuters) - U.S. private equity group Advent Internaional has agreed to buy defence and aerospace group Cobham for 4 billion pounds ($4.99 billion), the British company said on Thursday.

The offer of 165 pence in cash for each Cobham share represents a 50.3% premium to the average share price over the last three months, Cobham said.

$1 = 0.8017 pounds Reporting by Paul Sandle; Editing by Alistair Smout

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