UK approves TransDigm-CPI deal subject to national security condition

Britain on Wednesday approved TransDigm's acquisition of U.S.-based Communications & Power Industries (CPI), subject to the condition that CPI's UK research and manufacturing capabilities in relation to atomic clocks remain in the country.

Britain said in a statement it had made the provision to the deal, which refers to CPI's owner as Iceman Holdco, under the National Security and Investment Act.