22 September 2021
Meggitt shareholders back Parker takeover
by Marc Selinger
US-based Parker Hannifin Corporation, which has offered to buy the United Kingdom's Meggitt for GBP6.3 billion (USD8.6 billion), cleared a crucial hurdle on 21 September as Meggitt shareholders approved the deal.
The vote occurred two weeks after US-based TransDigm Group ended its bid for Meggitt, leaving Parker as the sole suitor.
Parker's proposal still requires regulatory approval. The UK Department for Business, Energy & Industrial Strategy (BEIS) said last month that the UK government is “closely monitoring” the proposed transaction, and has the power to intervene in takeovers that raise national security concerns.
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US-based Parker Hannifin Corporation, which has offered to buy the United Kingdom's Meggitt for GBP6...
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