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...But a bunch of big industrial stocks including GE, FedEx, Parker Hannifin and Caterpillar have staged remarkable runs (those four have returned 126, 73, 70 and 64 per cent since last October 10 2022, respectively...
...The agreement between Parker Hannifin and the Department for Business, Energy and Industrial Strategy means the deal will not be referred for a full Competition and Markets Authority investigation....
...We are less positive on high-quality but short cycle Neutral-rated Parker Hannifin (PH), Illinois Tool Works (ITW), and Ametek (AME)....
...Hannifin (Report, June 24)....
...UK business secretary Kwasi Kwarteng on Monday issued a so-called “intervention notice” after reviewing advice from officials about the impact of Parker Hannifin buying the Coventry-based group....
...Both America’s Parker Hannifin, which took over Meggitt, and private-equity backed Cobham, which bought Ultra, have promised to protect sensitive technology and beef up spending on research and development...
...Parker Hannifin said in a statement that it looked forward to “engaging with the UK government” and “bringing the review of the transaction to a satisfactory conclusion”....
...Hannifin.”...
...Tom Williams, chair and chief executive of Parker Hannifin, said he was “confident the combination of Meggitt and Parker creates a world class provider of engineered aerospace solutions”....
...Meggitt, the aerospace and defence engineer, is to be bought by US rival Parker Hannifin in a £6.3bn deal....
...Parker Hannifin, the US industrial group in talks to buy British aerospace and defence company Meggitt, is willing to extend initial commitments to protect jobs and investment, the chief executive signalled...
...Hannifin....
...Parker Hannifin had made a number of pledges to the government to alleviate concerns over jobs and national security when it made its original offer to buy Meggitt....
...Meggitt set a date of September 21 for a shareholder vote on the sale to Ohio-based Parker Hannifin....
...The company, which is in the process of being taken over by US rival Parker Hannifin, is a key component supplier to Boeing and Airbus....
...What level of cynicism is appropriate when Johnson’s government comes to consider the £6.3bn takeover offer for Meggitt, the aerospace and defence engineer, from Ohio-based peer Parker Hannifin?...
...Tony Wood, the head of Meggitt, which is being taken over by America’s Parker Hannifin, is understood to be a contender. Wood used to be head of the civil aerospace business at Rolls-Royce....
...Parker Hannifin declined to comment....
...The FTSE 250 group, whose planned £6.3bn takeover by US rival Parker Hannifin is under a formal investigation ordered by the UK government, expects the supply chain pressures that are holding back profitability...
...Meanwhile, Kwarteng is monitoring the proposed £7.1bn takeover of UK aerospace and defence company Meggitt by US rival Parker Hannifin....
...Yesterday, the UK government intervened in the attempted takeover of British aerospace and defence group Meggitt by US rival Parker Hannifin on national security grounds....
...He already has an eye on a £7.1bn agreed bid from US engineer Parker-Hannifin....
...The company, which has agreed to be taken over by US peer Parker-Hannifin, said 2021 organic revenue will be 5 per cent lower and underlying operating profit will be in the range of £170m to £190m....
...Meggitt’s approach from US rival Parker Hannifin stems from a desire to combine in a consolidating market. The government is taking an “active interest” in this deal too....
...In any case, its woolly jumping-off point for government talks already compares unfavourably with US strategic buyer Parker Hannifin’s for Meggitt. One thing seems pretty clear....
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