Decision

Proposed acquisition of Meggitt plc by Parker-Hannifin Corporation - public interest: decision notice

Decision relating to national security concerns raised by the proposed acquisition of Meggitt plc by Parker-Hannifin Corporation

From:
Department for Energy Security and Net Zero and Department for Business, Energy & Industrial Strategy
Published
19 July 2022

Documents

Proposed acquisition of Meggitt plc by Parker-Hannifin - public interest undertakings: decision notice

PDF, 136 KB, 2 pages

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Proposed acquisition of Meggitt plc by Parker-Hannifin - public interest: undertakings

PDF, 1.72 MB, 15 pages

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Details

The Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarteng, today (19 July 2022) announced that he has accepted statutory undertakings from the parties involved in the proposed acquisition of Meggitt plc by Parker-Hannifin Corporation and that the acquisition will not therefore be referred to the Competition and Markets Authority for a further assessment.

The decision follows a public consultation on the content of the draft undertakings. Having reviewed the public interest undertakings in the wake of the consultation, the Business Secretary has decided that the undertakings offered by the parties mitigate the national security risks identified to an acceptable level.

See the related deed of covenant and consultation and public interest intervention notice.

Published 19 July 2022