16th Jul 2014 07:54
LONDON (Alliance News) - Engineering and aerospace company Meggitt PLC could be about to become the latest British takeover target by a US company, according to rumours flying around the Farnborough Air Show, the Daily Mail reported on Wednesday.
Dealers at the air show heard that Hartford, Connecticut-based United Technologies Corp, which has often been mentioned as a possible bidder for Meggitt, could be about to make a GBP5 billion, or 625p per share, cash bid for the UK company, the newspaper reports.
Meggitt shares were leading FTSE 100 gainers early Wednesday, up 7.1% at 525.00 pence. At the current price, Meggitt has a market capitalisation of GBP4.23 billion.
http://www.thisismoney.co.uk/money/markets/article-2693227/MARKET-REPORT-Meggitt-bid-set-off.html
By Jon Darby; [email protected]; @jondarby100
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