TransDigm Group Incorporated (NYSE:TDG) entered into a definitive agreement to acquire Chelton Limited from Cobham Limited for approximately $970 million on November 24, 2020. The acquisition is expected to be financed through existing cash on hand. As of January 5, 2021, TransDigm has completed substantially all of its acquisition of Cobham Aero Connectivity.

The deal is subject to regulatory approvals and customary closing conditions and is expected to close during the first calendar quarter of 2021. As of January 5, 2021, TransDigm has completed substantially all of its acquisition of Cobham Aero Connectivity. A portion of the CAC acquisition representing approximately 2% of the total purchase price remains subject to Finnish regulatory approval and is expected to close in the coming weeks.

Lewis Blakey, Ramona Nee, Barry Fishley, Oliver Walker, Jonathan Macke, Alex Farr, Tom Richards, Ivor Gwilliams,Jennifer Britz, Neil Rigby, Vadim Brusser, Tim Welch and Marc Lordonnois of Weil, Gotshal & Manges LLP, Paris, Weil, Gotshal & Manges LLP and Weil,Gotshal & Manges Ltd, London acted as a legal advisor to Cobham Limited. Rothschild & Co SCA acted as financial advisor to Advent International Corporation parent of Cobham Limited in the transaction. Vica Irani of Jones Day acted as Antitrust counsel to TransDigm Group Incorporated (NYSE:TDG) in the transaction.