Investor Alert

Dow Jones Newswires Archives | Email alerts

Aug. 2, 2021, 2:37 a.m. EDT

Parker-Hannifin Corporation Agrees Acquisition of Meggitt Plc

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

Meggitt PLC said Monday that it has agreed to a 6.3 billion pounds ($8.76 billion) takeover by Parker Hannifin Corp.

Under the deal, accepting shareholders of the U.K. engineering company--which specializes in the aerospace, defense and energy markets--will get 800 pence in cash for each share held, a 71% premium to its closing price of 469.10 pence Friday.

Parker Hannifin said that it will offer a number of legally binding commitments to the U.K. government, including ensuring that Meggitt will continue to meets its contractual obligations, maintaining its U.K. headquarters and ensuring that most of Meggitt's board will be U.K. nationals.

Write to Ian Walker at ian.walker@wsj.com

Get news alerts on Parker Hannifin Corp. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Dow Jones Newswires

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.