UK clears U.S.-listed Parker's takeover of defence firm Meggitt
LONDON, July 19 (Reuters) - Britain's business minister Kwasi Kwarteng has approved the 6.3 billion-pound ($7.57 billion) takeover of London-based defence firm Meggitt MGGT.L by U.S. engineering and aerospace company Parker-Hannifin PH.N , his department said on Tuesday.
The deal was scrutinised by the government over competition and national security concerns, as Meggitt's customers include Britain's Ministry of Defence (MoD), Boeing BA.N , Airbus AIR.PA and Rolls-Royce RR.L .
On Tuesday, the business department said that its decision to clear the deal had come after advice from the MoD and the competition regulator, and following two separate consultations.
The department said it had accepted undertakings from Parker to mitigate national security risks and competition concerns, and that the assurances "secured the future of Meggitt and the important role it plays in the UK aerospace sector."
The commitments, which were given voluntarily by the New York Stock Exchange-listed company, included honouring existing contracts and notifying MoD in advance if there were any material changes to Meggitt's ability to supply to the MoD.
The company has also promised to retain Ansty Park in Coventry - a city in central England - as its British headquarters, increase its research and development activity and protect jobs.
The deal was part of a flurry of transactions involving U.S. companies looking to take over their British rivals due to cheaper valuations in the post-Brexit era. ($1 = 0.8327 pounds)
Reporting by William James; Writing by Muvija M; Editing by Michael Holden and Paul Simao
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。