(Alliance News) - Meggitt PLC shares rose sharply on Friday following a report that US-based aircraft parts maker Woodward Inc could be looking to buy its London-listed peer.
Woodward is working with an investment bank as it mulls a potential acquisition, and Coventry, England-based Meggitt is a possible target, Reuters reported, citing an article in Dealreporter.
https://www.reuters.com/article/meggitt-ma-stocks/meggitt-shares-jump-on-ma-report-idUSL1N2MU0D8
Meggitt shares were up 11% at 509.88 pence, the second best performer in the FTSE 250 on Friday. It has a GBP4 billion market capitalisation.
Shares in Fort Collins, Colorado-based Woodward closed at up 1.6% at USD126.39 in New York on Friday giving the company a market value of USD8 billion.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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