TransDigm has been told by the Takeover Panel that it has four weeks in which to “put up or shut up” in its attempt to break up the proposed marriage between Meggitt, the British aerospace and defence company, and Parker-Hannifin, the American industrial group. The mergers and acquisitions watchdog ruled that TransDigm, another American industrial business, must make a firm intention to make a formal offer to back up its provisional 900p-a-share approach by September 14. The ruling came shortly after Meggitt announced that it had formally agreed a 800p-a-share takeover by Parker-Hannifin. SponsoredThe £6.2 billion deal is not without controversy because of Meggitt’s key role in the UK defence sector — its customers include BAE Systems and Rolls-Royce — and whether such a

Source: The Times August 16, 2021 23:02 UTC