By Steve Goldstein
European stocks were on track to reach a record high on Monday, as U.K. aerospace group Meggitt surged on an agreement to be purchased by a U.S. rival.
The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.08% traded 0.6% higher to 464.60, which is above the closing record of 463.84.
The enthusiasm was matched in U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +0.09% , which advanced after a losing week.
U.K. aerospace company Meggitt /zigman2/quotes/208933633/delayed UK:MGGT +0.13% surged 58% to 743 pence after agreeing to be purchased by Parker Hannifin /zigman2/quotes/202924304/composite PH -0.38% for 800 pence a share in cash, showing there’s concern in the market the deal could be blocked by the U.K. government.