Aug 2 (Reuters) – Parker-Hannifin (PH.N) has agreed to buy its London-listed rival Meggitt (MGGT.L) for 6.3 billion pounds ($8.8 billion), with the U.S. company making a series of commitments, including on UK jobs, to fend off any potential concerns about the deal.
The takeover is the latest example of corporate America’s appetite for British companies, whose valuations are proving attractive partly as a result of the impact of the coronavirus pandemic and Brexit.
In an initial response, the government said it was “closely monitoring” the proposed takeover of the defence and aerospace company, based in the central English city of Coventry. Read more
