Parker-Hannifin Offers Remedies In Bid For EU Clearance Of Meggitt Deal: Reuters

March 21, 2022 9:43 AM | 1 min read |

Parker-Hannifin Corp PH has offered remedies to secure EU antitrust approval for its £6.3 billion bid for British rival Meggitt plc MEGGF, reported Reuters.
Related: Parker-Hannifin To Acquire Meggitt For ~£6.3B
The EU competition enforcer extended its deadline for a decision to April 11 from March 28.
The regulator will seek feedback from rivals and customers before deciding whether to clear the deal, demand more, or open a four-month-long investigation.
The report noted that Meggitt's customers include Boeing Co BA and Airbus SE EADSY.
Also Read: Parker-Hannifin Clocks 12% Revenue Growth In Q2; Raises FY22 Guidance
Price Action: PH shares traded higher by 0.10% at $290.68 on the last check Monday.

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