Parker Hannifin's recommended all cash acquisition of Meggitt PLC
Clients Parker Hannifin Corporation
Jones Day is acting as U.S. counsel to Parker Hannifin Corporation in the £6.3 billion acquisition of Meggitt plc, a leading international company headquartered in Coventry, United Kingdom, specializing in high performance components and subsystems for the aerospace, defense and selected energy markets.
The acquisition is proposed to be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006. The acquisition is conditioned on, among other things, approval of the scheme of arrangement by Meggitt’s shareholders and receipt of certain regulatory approvals. Parker reserves the right, subject to the prior consent of the U.K. Panel on Takeovers and Mergers, to elect to implement the acquisition by way of a takeover offer.