Meggitt rumoured to be in line for GBP 5bn cash offer from United Technologies
United Technologies, the support-services group based in Hartford, Connecticut, is rumoured to be preparing a GBP 5bn (EUR 6.3bn) offer for London-listed Meggitt, The Daily Mail reported.
The market report said chatter circulating at the Farnborough Air Show this week suggested a cash bid for the UK-based manufacturer of aircraft components may be imminent, pitched at 625p per share.
Meggitt’s stock was trading at 490.1p by yesterday’s close of trading and the company has a market capitalisation of just under GBP 4bn.
Source Daily Mail