If Advent’s proposed $5 billion take-private acquisition of Cobham is successful, the British provider of aerial refueling, avionics and other aerospace and defense products is sure to see many changes. But Cobham could see many more changes than most targets of a private equity (PE) buyout, including possibly changing its home country, consultants and observers say. “Advent has already pledged to invest in the company and to not move any of the major operations,” said ...

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