Cobham receives approaches for assets; has talked to Moog about asset swaps
03 MAR 2017
Cobham [LON:COB] Chief Executive David Lockwood said the FTSE-250 defence group has been approached by potential buyers for certain assets or for asset swaps, the Financial Times reported. Lockwood added that Cobham has already talked to Buffalo, New York-based counterpart MoogInc. about possible exchanges, the item said.
Lockwood was quoted in a report about Cobham’s proposed GBP 500m (EUR 582m) rights issue, which was announced on Thursday, 2 March.
The CEO was also quoted at the end of a Daily Telegraph report as saying that Cobham might consider asset disposals.
Cobham’s market capitalisation stood at GBP 2.36bn at the close of trading in London on Thursday.