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Advent International has agreed to buy Cobham (LSE: COB), a British defense and aerospace group known for developing air-to-air refueling technology. The deal is valued at £4 billion, or 165 pence per share ⁠— 35% premium to yesterday's closing price.

Why it matters: The deal could come under severe political and regulatory scrutiny in the U.K., just as Boris Johnson takes over as prime minister. Expect particular focus on possible layoffs and broader defense manufacturing sector impact, similar to debate last year when Melrose Industries bought GKN.

On the other hand: This is yet another example of how the pending Brexit hasn't scared off many U.S. investors.

The bottom line: "Cobham, which employs 10,000 people and also makes electronic warfare systems and communications for military vehicles, was shaken by a string of profit warnings in 2016 and 2017, forcing it to raise cash from shareholders. CEO David Lockwood embarked on a turnaround strategy two and half years ago, focused on improving the company’s financial and operating performance." — Paul Sandle, Reuters.

Go deeper: Everything you need to know about Brexit

Go deeper

China's crypto throwdown

Illustration: Sarah Grillo/Axios

China's latest move to ban cryptocurrency shows how tough it will be for the technology to deliver on its backers' vision of disruptive, decentralized change.

The big picture: Control of the currency is a foundation of sovereignty, and governments don't plan on losing that control even as money inevitably turns digital.

D.C. homicides fueled by rundown properties

Illustration: Sarah Grillo/Axios

Angela Washington was the last line of defense for residents at the Oak Hill Apartments in Southeast besieged by gun violence. Then, on the evening of Sept. 21, the 41-year-old special police officer was shot to death.

Why it matters: The District’s spike in gun violence is being linked partly to rundown properties that city officials and residents say have become magnets for criminal activity.

Biden's reengineer-America moment

Illustration: Sarah Grillo/Axios

The Senate's bipartisan $1.2 trillion infrastructure bill and President Biden's $3.5 trillion spending package could live or die this week — and take Democrats' fortunes with them. But all the minute-by-minute political drama obscures how much America could change if even a fraction of it passes.

The big picture: Anything short of total failure could have a transformative impact on day-to-day life — from how we move around to our access to the internet, paid family leave and child care, health care and college.

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