I MUST disagree with the article on the proposed takeover of Cobham plc (Business page, October 22). The matter is being considered by both the Competition and Market Authority and by the Defence Select Committee. Private equity is not a suitable owner for one of the UK's biggest defence companies. A typical private equity model is to load up an acquisition with debt, take very large dividends for itself, then to sell off what remains in a five to eight year period.

Pledges or assurances are notably not kept (Mondelez/Cadbury being a prime example).

If ownership passes overseas the UK will have less to bring to the table in international partnerships and will thus lose out on some future programmes. Our intellectual property will have gone with the new owners and will be dissipated beyond our control when the business is finally broken up. This is why such a number of high profile national and security people have spoken out against the proposed deal.


Former CEO and chairman of Cobham

Avon Castle, Dorset