Off Topic - Nice if you can get it!2 Aug 2021 16:43
2nd August - (Sharecast News) - Defence and aerospace engineer Meggitt said on Monday that it has agreed to be bought by US rival Parker-Hannifin for £6.3bn as it reported a decline in interim profit and revenue.
Under the terms of the deal, Meggitt shareholders will receive 800p per share, which is a premium of around 70.5% to the closing share price on Friday.
Share price today up 56%
News of the takeover came alongside the company's interim results, which showed a 26% drop in revenue to £680m, with pre-tax profit down 43% to £48.4m.