UK government ‘minded to accept’ takeover of Meggitt by US buyer

Parker Hannifin expects to complete 6.3bn move for British defence manufacturer within two months

The UK government has signalled it is likely to accept the 6.3bn takeover of the British defence manufacturer Meggitt, the second deal by a US buyer to receive a green light in a week.

The American industrial conglomerate Parker Hannifin said on Wednesday that it expected to complete the takeover within the next two months after receiving assent from the UK business secretary, Kwasi Kwarteng.