Parker-Hannifin Corporation’s Acquisition Of Meggitt

Slaughter and May advised Meggitt plc on the deal. Weil, Gotshal & Manges advised Citi in providing the committed bridge financing for the acquisition.
Jones Day advised Parker Hannifin Corporation.

Under the terms of the acquisition, each Meggitt shareholder will be entitled to receive 800 pence in cash for each Meggitt share. The acquisition values the entire issued and to be issued share capital of Meggitt at approximately £6.3 billion on a fully diluted basis and is expected to complete in the third quarter of 2022, subject to receipt of shareholder, antitrust and regulatory approvals.

Headquartered in the United Kingdom, Meggitt is an international group and a world leader in the aerospace, defence and energy markets. Working closely with its customers, Meggitt delivers technologically differentiated systems and products for the most demanding environments with high certification requirements for applications across its core end markets.

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. 

Slaughter and May is working with Meggitt’s Group General Counsel and Director, Corporate Affairs, Andrew Garard.

Slaughter and May’s team included Paul Dickson (Picture), Partner, Christian Boney, Partner, Luke Rowland, Associate, Ed Horner, Associate, Stephanie Schiller, Associate, Lewis Rowley, Associate, Cameron Anderson, Trainee, Kate Merry, Trainee, Teodora Stanoeva, Trainee, Angus Young, Trainee, Bertrand Louveaux, Partner, Jonathan Slade, Associate, Evan Battison, Associate, Phil Linnard, Partner, Philippa O’Malley, Associate, Richard Surtees, Associate, Adrien Mallevays, Associate, Charles Cameron, Partner, Chris Sharpe, Associate, Owen Clarridge, Trainee, Will Amor, Trainee, Gareth Miles, Partner and Gabrielle Pereira, Associate.

The Weil team advising Citi was led by Banking & Finance partner Morgan Bale and included Banking & Finance associates Jessie Chiang and Christopher Chan; Capital Markets partner Faiza Rahman; and Capital Markets associate Rebecka Moreno.The London team included Banking & Finance partner Chris McLaughlin; Banking & Finance counsel Mark Davis; Private Equity senior consultant Ian Hamilton; and Private Equity associate Jack Gray. The team also included Tax partner Daniel Nicholas; Environmental Head Annemargaret Connolly; Environmental counsel Matthew Morton; and White Collar Defense, Regulatory and Investigations associate Sarah Choi.

The Jones Day team was led by Rachel Rawson.

Involved fees earner: Rachel Rawson – Jones Day; Evan Battison – Slaughter and May; Christian Boney – Slaughter and May; Charles Cameron – Slaughter and May; Paul Dickson – Slaughter and May; Ed Horner – Slaughter and May; Phil Linnard – Slaughter and May; Bertrand Louveaux – Slaughter and May; Adrien Mallevays – Slaughter and May; Gareth Miles – Slaughter and May; Philippa O’Malley – Slaughter and May; Gabrielle Pereira – Slaughter and May; Luke Rowland – Slaughter and May; Lewis Rowley – Slaughter and May; Stephanie Schiller – Slaughter and May; Chris Sharpe – Slaughter and May; Jonathan Slade – Slaughter and May; Richard Surtees – Slaughter and May; Morgan Bale – Weil, Gotshal & Manges; Christopher Chan – Weil, Gotshal & Manges; Jessie Chiang – Weil, Gotshal & Manges; Sarah Choi – Weil, Gotshal & Manges; Annemargaret Connolly – Weil, Gotshal & Manges; Mark Davis – Weil, Gotshal & Manges; Jack Gray – Weil, Gotshal & Manges; Chris McLaughlin – Weil, Gotshal & Manges; Rebecka Moreno – Weil, Gotshal & Manges; Matthew Morton – Weil, Gotshal & Manges; Daniel Nicholas – Weil, Gotshal & Manges; Faiza Rahman – Weil, Gotshal & Manges;

Law Firms: Jones Day; Slaughter and May; Weil, Gotshal & Manges;

Clients: Citigroup Inc.; Meggitt PLC; Parker Hannifin;

Giulia Di Palma

Author: Giulia Di Palma