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The Guardian - UK

Business

Jasper Jolly

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

United Kingdom parker United States Parker Hannifin Kwasi Kwarteng

A UK F-35 Lightning jet on HMS Queen Elizabeth for the first time in 2019. — Meggitt makes wheels, materials and electronics for the F-35 fighter jet. Photograph: LPhot Kyle Heller/MoD Crown Copyright/PA

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.

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