Parker-Hannifin acquires Meggitt for £6.3 bn

Parker-Hannifin has completed the acquisition of Meggitt for approximately £6.3 bn. Meggitt has diverse aerospace and defense exposure with technology and products on almost every major aircraft platform. Excited about the deal, Tom Williams, Chairman and Chief Executive Officer said: “We are excited to have reached the closing of what is a very compelling strategic and cultural combination. Meggitt’s complementary product portfolio and geographic footprint, as well as its proprietary and differentiated technologies, will significantly enhance Parker’s capabilities, positioning us to provide a broader suite of solutions for aircraft and aero-engine components and systems. This acquisition continues the transformation of