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EU antitrust regulators to decide on Parker, Meggitt deal by March 28

By Reuters

BRUSSELS – EU antitrust regulators will decide by March 28 whether to clear U.S. engineering and aerospace company Parker-Hannifin’s 6.3-billion-pound ($8.57 billion) bid for British rival Meggitt, according to a European Commission filing on Monday.

The EU competition enforcer can clear the deal with or without remedies or it can open a four-month long investigation if it has serious concerns.

The British government is reviewing the impact of the takeover on national security grounds. Meggitt makes components for aircraft makers such as Boeing and Airbus and also supplies wheel and brake systems for military fighter programmes.

($1 = 0.7348 pounds)