Parker-Hannifin (PH) Closes Meggitt Deal, Expands in UK

Published on 16 Sep 2022 on Zacks via Yahoo Finance

Parker-Hannifin (PH) Closes Meggitt Deal, Expands in UK

Parker-Hannifin Corporation PH recently completed its previously announced acquisition of Meggitt PLC for approximately £6.3 billion. Meggitt is a UK-based company specializing in components and sub-systems for the aerospace, defense and energy markets.The acquisition expands Parker-Hannifin’s presence in the UK, positioning it well to provide a broader suite of solutions for aircraft, and aeroengine components and systems.The transaction is expected to increase organic growth, generate a higher cash flow and boost earnings per share (excluding one-time costs and deal-related amortization) for PH, thus driving significant value creation for its shareholders.

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Parker-Hannifin (PH) Closes Meggitt Deal, Expands in UK

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