Slaughter and May is advising Meggitt on a recommended cash acquisition by Parker-Hannifin Corporation

Slaughter and May is advising Meggitt plc on a recommended cash acquisition of the entire issued and to be issued share capital of Meggitt by Parker-Hannifin Corporation.

Under the terms of the acquisition, each Meggitt shareholder will be entitled to receive 800 pence in cash for each Meggitt share. The acquisition values the entire issued and to be issued share capital of Meggitt at approximately £6.3 billion on a fully diluted basis and is expected to complete in the third quarter of 2022, subject to receipt of shareholder, antitrust and regulatory approvals.

Headquartered in the United Kingdom, Meggitt is an international group and a world leader in the aerospace, defence and energy markets. Working closely with its customers, Meggitt delivers technologically differentiated systems and products for the most demanding environments with high certification requirements for applications across its core end markets.

Slaughter and May is working with Meggitt’s Group General Counsel and Director, Corporate Affairs, Andrew Garard.