Proposed acquisition of Meggitt plc by Parker-Hannifin Corporation - competition: decision notice
Decision relating to competition concerns raised by the proposed acquisition of Meggitt plc by Parker-Hannifin Corporation.
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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. The Business Secretary has made the decision that the undertakings offered by the parties address the competition concerns identified by the Competition and Markets Authority in its phase 1 report.
See the related deed of covenant and consultation and public interest intervention notice.