Ultra Electronics Says It Ended Initial Deal Talks With Cobham

Advent International Corp.’s Cobham Ltd. and fellow defense and aerospace equipment manufacturer Ultra Electronics Holdings Plc have ended their preliminary deal talks, Ultra said late Friday.

The discussions revolved around a possible combination of some or all of Ultra’s Intelligence and Communications unit, Ultra said in a statement.

A number of structures were under consideration for the U.K. companies, Cobham said in a statement. It could have been folded into Ultra Electronics in exchange for shares, or Cobham might have purchased Ultra.

Shares of Ultra jumped as much as 8.1% in London, and closed up 7%.

Both companies ...