StockMarketWire.com - Defence contractor Meggitt noted that the UK government was probing its planned acquisition by Parker-Hannifin on national security grounds.

The proposed deal had on Monday been referred by the government to the Competition and Markets Authority on the grounds of a national security public interest consideration.

'The company also notes that the CMA is required to report to the Secretary of State by midnight at the end of 18 March 2022 and looks forward to engaging constructively with the CMA on its review,' Meggitt said.

Meggitt added that it continued to expect the acquisition to be complete in the third quarter of 2022.


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