PRESS: Meggitt rises as peer Woodward considers possible takeover bid

(Alliance News) - Meggitt PLC shares rose sharply on Friday following a report that US-based ...

Alliance News 7 May, 2021 | 9:38AM
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(Alliance News) - Meggitt PLC shares rose sharply on Friday following a report that US-based aircraft parts maker Woodward Inc could be looking to buy its London-listed peer.

Woodward is working with an investment bank as it mulls a potential acquisition, and Coventry, England-based Meggitt is a possible target, Reuters reported, citing an article in Dealreporter.

https://www.reuters.com/article/meggitt-ma-stocks/meggitt-shares-jump-on-ma-report-idUSL1N2MU0D8

Meggitt shares were up 11% at 509.88 pence, the second best performer in the FTSE 250 on Friday. It has a GBP4 billion market capitalisation.

Shares in Fort Collins, Colorado-based Woodward closed at up 1.6% at USD126.39 in New York on Friday giving the company a market value of USD8 billion.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Meggitt PLC 792.00 GBX 0.00

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