Takeover Panel Meggitt plc (7323I)
16 Agosto 2021 - 2:18AM
UK Regulatory
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RNS Number : 7323I
Takeover Panel
16 August 2021
2021/17
MEGGITT PLC ("MEGGITT")
PARKER-HANNIFIN CORPORATION ("PARKER")
TRANSDIGM GROUP INCORPORATED ("TRANSDIGM")
On 2 August 2021, the boards of Parker and Meggitt announced
that they had reached agreement on the terms of a recommended firm
offer for Meggitt (the "Parker Offer"), to be implemented by means
of a scheme of arrangement.
On 11 August 2021, Meggitt announced that it had received a
preliminary, non-binding proposal from TransDigm with respect to a
possible cash offer for the entire issued and to be issued share
capital of Meggitt.
On 16 August 2021, Meggitt announced the publication of the
scheme circular in relation to the Parker Offer. That circular
included notice of the shareholder meetings to approve the Parker
Offer, which are scheduled to be held on 21 September 2021.
Pursuant to Rule 2.6(d) and Section 4 of Appendix 7 of the
Takeover Code (the "Code"), the Executive has ruled that, unless
the Executive consents otherwise, TransDigm must, by 5.00 pm on 14
September 2021, either announce a firm intention to make an offer
for Meggitt under Rule 2.7 of the Code or announce that it does not
intend to make an offer for Meggitt. This deadline will cease to
apply if, before that time, a third party other than TransDigm has
announced a firm intention to make an offer for Meggitt under Rule
2.7 of the Code.
Each of Meggitt, Parker and TransDigm has accepted this
ruling.
16 August 2021
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