Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMGGT.L Share News (MGGT)

  • There is currently no data for MGGT

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Meggitt takeover by Parker-Hannifin receives conditional EU approval

Mon, 11th Apr 2022 18:27

(Alliance News) Parker-Hannifin Corp announced on Monday its proposed GBP6.3 billion takeover of Meggitt PLC has been cleared by European regulatory authorities.

Parker-Hannifin said the acquisition of Coventry, England-based aerospace components maker Meggitt has been cleared by the European Commission, on a conditional basis. Parker must comply with certain commitments, including the divestment of its Ohio-based Aircraft Wheel & Brake division.

The divestment has already begun, Parker said.

It also announced unconditional approval of the deal from competition authorities in Australia, Singapore, Saudi Arabia, Denmark, Germany, Italy and Turkey.

In late September, Meggitt shareholders backed the deal almost unanimously.

Parker still expects the acquisition to complete in the third quarter of this year, as previously announced.

Meggitt shares closed down 0.3% to 766.86 pence each in London on Monday.

The takeover is still awaiting developments in the investigation being conducted by the UK Competition & Markets Authority, after the UK government referred the deal to the competition regulator on national security grounds.

The CMA submitted its report to the UK's Department for Business, Energy & Industrial Strategy on March 18, which will decide whether the transaction is deemed to be against the public interest.

By Elizabeth Winter; elizabethwinter@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
7 May 2021 11:29

LIVE MARKETS-Vaccine: Europe catches up to U.S. pace

* STOXX 600 on record high, up 0.6%* Basic materials stock index lead gains, up 12%* Traders wait for Scottish election results* U.S. jobs in focus* Wall Street futures tick upMay 7 - Welcome to the home for real-time coverage of markets brought to ...

Read more
7 May 2021 10:38

PRESS: Meggitt rises as peer Woodward considers possible takeover bid

PRESS: Meggitt rises as peer Woodward considers possible takeover bid

Read more
7 May 2021 10:19

LIVE MARKETS-How long will pent-up demand last?

* STOXX 600 up 0.5%* Traders wait for Scottish election results* U.S. jobs in focus* Wall Street futures tick upMay 7 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us a...

Read more
7 May 2021 09:55

UPDATE 2-European stocks end at record high on strong German data, earnings

* STOXX 600 reclaims April high* Commodity stocks rally, best weekly performers* Adidas surges on forecast lift (Updates to market close)By Sruthi Shankar and Ambar WarrickMay 7 (Reuters) - European stocks closed at a record high on Friday, marking...

Read more
7 May 2021 09:43

UPDATE 2-UK mid-caps hit record high on recovery hopes; M&A chatter boosts Meggitt

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* St. Modwen Properties surges on $1.68 bln buyout offer* Melrose rises on Morgan Stanley PT hike* FTSE 100 up 0.7%, FTSE 250 adds 1.2% (Upd...

Read more
7 May 2021 09:40

BROKER RATINGS: Liberum downgrades John Laing to hold from buy

BROKER RATINGS: Liberum downgrades John Laing to hold from buy

Read more
7 May 2021 09:09

UPDATE 1-Jet parts supplier Meggitt's shares jump on M&A report

(Adds background, Meggitt declined to comment)LONDON, May 7 (Reuters) - Shares in British engineering company Meggitt jumped 14% on Friday after the Dealreporter website said that U.S. group Woodward Inc was looking at a potential deal.Meggitt's m...

Read more
7 May 2021 08:52

Meggitt shares jump on M&A report

LONDON, May 7 (Reuters) - Shares in British engineering company Meggitt jumped 14% on Friday after the Dealreporter website said that U.S. group Woodward Inc was looking at a potential deal.Meggitt's market capitalisation was $5 billion as of Thu...

Read more
7 May 2021 08:07

Meggitt surges as Woodward said to explore possible acquisition

(Sharecast News) - Meggitt shares surged on Friday following a report that US-based Woodward Inc could be looking to buy the London-listed aerospace engineer.

Read more
4 May 2021 09:40

BROKER RATINGS: JPMorgan and Morgan Stanley differ on Trustpilot

BROKER RATINGS: JPMorgan and Morgan Stanley differ on Trustpilot

Read more
30 Apr 2021 09:43

BROKER RATINGS: Johnson Matthey and Meggitt receive upgrades

BROKER RATINGS: Johnson Matthey and Meggitt receive upgrades

Read more
30 Apr 2021 08:26

LONDON BRIEFING: Cybersecurity firm Darktrace climbs 40% on debut

LONDON BRIEFING: Cybersecurity firm Darktrace climbs 40% on debut

Read more
29 Apr 2021 20:25

IN BRIEF: Meggitt to engage with shareholders after AGM vote

IN BRIEF: Meggitt to engage with shareholders after AGM vote

Read more
29 Apr 2021 10:00

Meggitt cautions on softer future recovery pace as revenue falls

Meggitt cautions on softer future recovery pace as revenue falls

Read more
29 Apr 2021 09:41

BROKER RATINGS: UBS raises Pearson and Barclays downgrades Dixons

BROKER RATINGS: UBS raises Pearson and Barclays downgrades Dixons

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.