UK 'closely monitoring' Parker-Hannifin's swoop on Meggitt

Parker-Hannifin's agreed $8.8bln takeover of its British aerospace engineering rival Meggitt

  
A dealer works at his desk whilst screens show market data following a vote on Prime Minister Theresa May's Brexit 'plan B' at CMC Markets in London, Britain, January 30, 2019.

A dealer works at his desk whilst screens show market data following a vote on Prime Minister Theresa May's Brexit 'plan B' at CMC Markets in London, Britain, January 30, 2019.

REUTERS/Dylan Martinez

LONDON- Britain said on Monday it was closely monitoring U.S. company Parker-Hannifin's agreed $8.8 billion takeover of its British aerospace engineering rival Meggitt.

"Under the Enterprise Act 2002, the business secretary has powers to intervene in mergers and takeovers which raise national security concerns," a government spokesperson said.

"While commercial transactions remain primarily a matter for the parties involved, the government is closely monitoring the proposed acquisition of Meggitt by Parker-Hannifin."

(Reporting by Paul Sandle; editing by Sarah Young) ((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))


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