Notice

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.

• From: Cabinet Office and Department for Business, Energy & Industrial Strategy
• Published: 19 July 2022

Documents

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

PDF, 15.6 KB, 2 pages

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Proposed acquisition of Meggitt plc by Parker-Hannifin - competition: undertakings

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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. 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.

Published 19 July 2022