UK approves TransDigm-CPI deal subject to national security condition

-0.51%

-1.73%

-1.07%

-1.69%

Dow Jones Industrial Average DJI	48458.05	-0.51%
TransDigm Group Incorporated TDG	1294.65	-1.73%
S&P 500 index SPX	6827.41	-1.07%
NASDAQ IXIC	23195.17	-1.69%

LONDON, Feb 28 (Reuters) - Britain on Wednesday approved TransDigm's TDG.N acquisition of U.S.-based Communications & Power Industries (CPI), subject to the condition that CPI's UK research and manufacturing capabilities in relation to atomic clocks remain in the country.

Britain said in a statement it had made the provision to the deal, which refers to CPI's owner as Iceman Holdco, under the National Security and Investment Act.

(Reporting by Muvija M; Writing by Sarah Young; Editing by Sachin Ravikumar)

((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.