Ultra Electronics Holdings (ULE)

Sector:

Defense and Aeronautics

Index:

FTSE 250

 3,200.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 3,370.00
  • 52 Week Low: 1,856.00
  • Currency: UK Pounds
  • Shares Issued: 71.35m
  • Volume: 157,914
  • Market Cap: £2,283.08m
  • RiskGrade: 109

Ultra Electronics 'minded' to recommend £2.58bn Cobham offer

By Frank Prenesti

Date: Monday 26 Jul 2021

LONDON (ShareCast) - (Sharecast News) - UK defence company Ultra Electronics on Friday said it was minded to recommend a £2.58bn takeover bid from Cobham to shareholders.
Cobham, owned by US private-equity firm Advent International, has offered £35 a share, a 42% premium to Ultra's share price of £24.70 on Thursday.

Accepting shareholders will also be able to keep the interim dividend of 16.2 pence per share, announced earlier this week.

Cobham had indicated it would offer the UK government "appropriate undertakings in respect of national security" and both side would now start talks to explore the offer in more detail.

Ultra is a major part of the Royal Navy's supply chain, providing submarine-hunting sonobuoys for British warships. When Cobham was bought out by Advent International for £4bn two years ago there was an inquiry into claims that the acquisition was against the UK national strategic defence interests.

Cobham has until August 20 to either make an offer or walk away under UK Takeover Panel "put up or shut up" rules.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ULE Market Data

Currency UK Pounds
Share Price 3,200.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 3,370.00
52 Week Low 1,856.00
Volume 157,914
Shares Issued 71.35m
Market Cap £2,283.08m
RiskGrade 109

ULE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.19% below the market average94.19% below the market average94.19% below the market average94.19% below the market average94.19% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
78.65% above the market average78.65% above the market average78.65% above the market average78.65% above the market average78.65% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
27.55% below the market average27.55% below the market average27.55% below the market average27.55% below the market average27.55% below the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average
Growth
71.95% above the market average71.95% above the market average71.95% above the market average71.95% above the market average71.95% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ULE Dividends

  Latest Previous
  Interim Final
Ex-Div 26-Aug-21 08-Apr-21
Paid 17-Sep-21 14-May-21
Amount 16.20p 41.50p

Trades for 20-Sep-2021

Time Volume / Share Price
16:35 22,996 @ 3,200.00p
16:29 3 @ 3,204.00p
16:29 29 @ 3,204.00p
16:29 57 @ 3,204.00p
16:29 3 @ 3,204.00p

ULE Key Personnel

CEO Simon Pryce
Chair Tony Rice
CFO Jos Sclater

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