Parker confirms uk government's approval of the meggitt acquisition

Cleveland, july 19, 2022 (globe newswire) -- parker hannifin corporation (nyse:ph) today welcomes the announcement from the uk's secretary of state for business, energy and industrial strategy that, following public consultation, he accepts the competition and national security undertakings provided by parker in relation to the meggitt acquisition and the transaction is therefore cleared to proceed by the uk government. as previously announced on august 2, 2021, the boards of meggitt and parker reached agreement on the terms and conditions of a recommended all cash acquisition by parker of the entire issued, and to be issued, ordinary share capital of meggitt plc (the “acquisition”).
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