The US’s space technology giant Parker acquires the UK’s Meggitt for $8.8bn
American space technology giant Parker-Hannifin Corporation buys British company Meggitt to strengthen its position in the recovering aerospace industry.
The US’s space technology giant Parker-Hannifin Corporation has agreed to buy Meggitt, a British aviation pioneer, for £6.3 billion ($8.8 billion).
The US’s space technology giant Parker acquires the UK’s Meggitt for $8.8bn / ph:
In a joint statement published on August 2, Parker said that it will make a number of legally binding commitments to the UK government related to the above sale agreement, as ensuring Meggitt meets all existing contractual obligations with the government.
Transfer process between Parker-Meggitt will take place after the acquisition agreement is approved by shareholders and the company's management board.
Mr. Tom Williams, President and CEO of Parker, said that the merger of these two companies will provide customers with a better experience through products that are advanced research and development combined with defense and space technology portfolios.
The US’s space technology giant Parker acquires the UK’s Meggitt for $8.8bn
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