Parker receives EU antitrust nomination for $8.2 billion purchase of Meggitt

BRUSSELS, April 11 (Reuters) – U.S. aerospace engineering group Parker-Hannifin won European Union antitrust approval on Monday for its 6.3 billion pound ($8.2 billion) takeover of British carmaker Meggitt after agreeing to sell a plant in the United States.

The European Commission said the arrangement addressed its competition concerns, a report by Reuters reported on April 1.

“Parker’s package of remedies will preserve competition in these markets and ensure that aerospace and defence customers have access to a sufficient choice of component suppliers and can continue to benefit from competitive prices,” the European antitrust authority said in a statement.

($1 = 0.7683 pounds) (Reporting by Foo Yun Chee, editing by Marine Strauss)