Ultra Electronics Holdings plc (LSE:ULE) late June 25, 2021 said it has terminated talks regarding a possible combination with Cobham Ltd. Earlier on June 25, 2021, Cobham, which is controlled by Advent International Corp, said it is mulling a potential takeover offer for Ultra, with a view to create a "global defence electronics champion". The London-based firm confirmed that it was at the very early stages of exploratory discussions around a possible combination of some or all of its Intelligence & Communications Strategic business unit and entities within Cobham's CAES group. These discussions have now been terminated by Ultra, the company said in its statement on June 25, 2021.

Ultra also confirmed that it has not received a proposal from Advent, Cobham or CAES.