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Benzinga
Benzinga
Business
Akanksha Bakshi

Parker-Hannifin Offers Remedies In Bid For EU Clearance Of Meggitt Deal: Reuters

European Union NYSE British Airways PH Airbus SE Boeing Co
  • Parker-Hannifin Corp (NYSE:PH) has offered remedies to secure EU antitrust approval for its £6.3 billion bid for British rival Meggitt plc (OTC:MEGGF), reported Reuters.
  • Related: Parker-Hannifin To Acquire Meggitt For ~£6.3B
  • The EU competition enforcer extended its deadline for a decision to April 11 from March 28.
  • The regulator will seek feedback from rivals and customers before deciding whether to clear the deal, demand more, or open a four-month-long investigation.
  • The report noted that Meggitt's customers include Boeing Co (NYSE:BA) and Airbus SE (OTC:EADSY).
  • Also Read: Parker-Hannifin Clocks 12% Revenue Growth In Q2; Raises FY22 Guidance
  • Price Action: PH shares traded higher by 0.10% at $290.68 on the last check Monday.
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