Meggitt gets preliminary bid from U.S. rival Parker-Hannifin

97
1

Aug 11 - Meggitt said on Wednesday it received a preliminary proposal from U.S. rival Parker-Hannifin to acquire British engineering company at 7.03 billion pounds days after it agreed on a bid from the American rival Transdigm Group.

Meggitt said the possible offer by TransDigm of 900 pence per share of Meggitt was preliminary and non-binding in nature. The potential offer exceeded an 800 pence per share proposal from engineering company Parker last week.

The London-listed company said it continued to unanimously back the Parker offer, adding that it would also review Transdigm's proposal.