Meggitt Aerospace Asia Pacific Pte Ltd - 1A Seletar Aerospace Link
3.2/5
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based on 8 reviews
Contact Meggitt Aerospace Asia Pacific Pte Ltd
| Address : | Singapore 797552 |
| Phone : | ๐ +88 |
| Website : | https://aviationdirectory.biz/directory/meggitt-aerospace-asia-pacific-pte-ltd/ |
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โ โ โ โ โ LONDON, Oct 18 (Reuters) - Britain said on Monday it was intervening in a proposed 6.3 billion-pound ($8.65 billion) takeover by U.S. engineering and aerospace firm Parker-Hannifinย (PH.N)ย of its British rival Meggittย (MGGT.L), citing national security grounds.
The business minister Kwasi Kwarteng issued a so-called "intervention notice" to review the impact of the takeover.
"The UK is open for business, however we will take steps to protect our national security when necessary," Kwarteng said.
Parker-Hannifin said in August it had agreed to buy London-listed Meggitt and promised a series of commitments, including on UK jobs, in an attempt to fend off concerns about the deal.
The planned takeover was the latest by U.S. investors for British firms which have become attractively priced after the COVID-19 pandemic and Brexit which hit the value of the pound.
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