The £4 billion takeover of UK defence giant Cobham has moved a step closer after the Government said it is considering giving the all clear to the deal with US private equity firm Advent.

Business secretary Andrea Leadsom said she is "minded to accept" legally binding undertakings from the proposed buyer which would allow the sale to go through.

The undertakings include a requirement that existing security arrangements will be "continued and strengthened".

Ms Leadsom added that she will hold a consultation on the proposals until December 17.

Ms Leadsom said: "Following my update to Parliament on November 5, I have now reviewed further national security advice from the Ministry of Defence and met with both Cobham and Advent who have offered legally binding undertakings designed to mitigate national security concerns, which I am minded to accept.

"They will now be considered by a public consultation and I will provide a further update once that process has concluded.

"No decision will be taken on whether to accept the undertakings until the consultation has closed and the representations have been carefully considered.

"This decision on the national security considerations is separate to any discussions on the economic implications of the proposed merger."