The US takeover of UK defence 

Sell-off of key defence assets is hardly conducive to an independent foreign policy

Ultra’s technologies are used in the Eurofighter
Ultra’s technologies are used in the Eurofighter
(Image credit: Alexander Koerner/Getty Images)

“Yet another British defence manufacturer has fallen to the American greenback,” said Maggie Pagano in the Daily Mail. The board of Ultra Electronics – a major supplier to the Royal Navy – has agreed to a £2.6bn takeover by rival Cobham, which is owned by the US private equity group Advent. This means around £10bn worth of Britain’s most high-tech defence equipment has been sold to the US in a matter of months. Among other things, Ultra “makes highly sensitive equipment” for Britain’s nuclear fleet, said Alan Tovey in The Daily Telegraph. No wonder Whitehall’s “defence heavyweights” are so agitated. Moreover, Advent’s record hardly instils confidence. When it bought Wimborne-based Cobham for £4bn 18 months ago, it pledged to be a “good custodian” of the company – yet it almost immediately sold “a string of its assets”.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up