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Britain launches public consultations on Meggitt-Parker deal

Tue, 28th Jun 2022 20:53

June 28 (Reuters) - Britain on Tuesday launched two separate public consultations on the proposed acquisition of aerospace company Meggitt by U.S.-based Parker-Hannifin to address national security and competition concerns.

Britain was already probing the deal, which is the latest by a U.S. buyer of a British firm, over national security concerns as Meggitt's customers include Boeing, Airbus, Britain's Ministry of Defence (MoD) and Rolls-Royce.

The 6.3 billion pound ($7.67 billion) deal won EU antitrust approval in April after Parker-Hannifin pledged to sell a factory in the United States. ($1 = 0.8209 pounds) (Reporting by Rhea Binoy in Bengaluru Editing by Chris Reese)

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