Reuters reveals Parker set to gain EU antitrust approval for $8.3 bln Meggitt buy

Reuters revealed Parker-Hannifin is set to gain EU antitrust clearance for its 6.3 billion pound bid for Britain’s Meggitt after offering to sell a U.S. factory to address competition concerns. The U.S. engineering and aerospace group submitted its offer to the European Commission last month and the EU competition watchdog then sought feedback from rivals and customers.