UK 'closely monitoring' Parker-Hannifin's swoop on Meggitt
LONDON, Aug 2 (Reuters) - Britain said on Monday it was closely monitoring U.S. company Parker-Hannifin's agreed $8.8 billion takeover of its British aerospace engineering rival Meggitt.
"Under the Enterprise Act 2002, the business secretary has powers to intervene in mergers and takeovers which raise national security concerns," a government spokesperson said.
"While commercial transactions remain primarily a matter for the parties involved, the government is closely monitoring the proposed acquisition of Meggitt by Parker-Hannifin." (Reporting by Paul Sandle; editing by Sarah Young)
