LONDON (CU)_Over the recent months, the government of the United Kingdom has been facing widespread criticism for its apparent inability or reluctance to prevent the sale of some of the longest-established defence businesses in the country. Last month, London-based defence firm Ultra Electronics announced that it has agreed to a £2.6bn takeover with US-owned Cobham Group, at a share price that is more than 40 per cent higher than the company’s all-time record. Meanwhile, British aerospace manufacturer Meggitt is said to be a step closer to a takeover by Parker Hannifin, with Meggitt’s board has recommended shareholders vote for a £6.3bn takeover offer made by the US Company in August.
As a result, the government has found itself in a pickle, unable to…
