(Reuters) – Britain on Wednesday accepted undertakings from both Ultra Electronics and rival Cobham, moving a step closer in approving the latter’s acquisition of the London-listed defence firm, after having raised security concerns over the deal. “The government has accepted legally binding economic commitments offered by Cobham Ultra Acquisitions Limited to protect the future of Ultra Electronics Holdings plc in the UK,” the government’s Department of Business, Energy & Industrial Strategy said in a statement on Wednesday. The UK government last month started a consultation process over the …