Originally Posted by
Bonkey
Shares of Eaton Corp. ETN, +2.21% edged up 0.3% in premarket trading Monday, after the power management company announced an agreement to buy air-to-air refueling systems company Cobham Mission Systems in a deal valued at $2.83 billion. The deal is expected to close in the second half of 2021. Eaton said the deal's value includes a tax benefit of $130 million. "Cobham Mission Systems' highly complementary products and strong position on growing defense platforms will enhance our fuel systems business and position our Aerospace business for future growth," said Heath Monesmith, president of industrial sector at Eaton. The stock rose 13.4% over the past three months through Friday, while the S&P 500 SPX, +1.43% advanced 13.6%.
What happened to the cast iron guarantee that Advent gave to the UK Trade and Industry Minister just under a year ago that it was not buying the Cobham Group to break up and sell off?? Cobham Aviation has already gone, now the jewel in the crown of Cobham's core division. I think quite a few others have been sold too.
Or was it our UK government cosying up to Trump back then to try and secure a post-Brexit trade deal that allowed the original sale to Advent to be waived through despite many legitimate concerns?
I for one, was bitterly disappointed when my Cobham shares were sold from under me..........even though I made a profit. It felt like Cadbury's all over again.......empty promises by corporate raiders that ultimately aren't worth the paper they're written on. Give it a few years and the same thing will happen at Rolls Royce. We seem to fall for it every time.