TransDigm Chairman W. Nicholas Howley said in a statement Tuesday that the company had made efforts to advance a potential deal, such as arranging the needed financing for the transaction and reaching a memorandum of understanding with Meggitt’s pension plan trustees.
“However, consistent with our disciplined approach to capital allocation, we make acquisitions only when we see a clear path to achieving our investment return goals with a reasonable degree of certainty,” Howley added.
In August, TransDigm made an unsolicited bid to acquire Meggitt for 900 pence in cash per share.
TransDigm’s offer came a week after Parker-Hannifin (NYSE: PH), a Cleveland-based provider of motion and control technologies for aerospace and industrial markets, agreed to buy Meggitt for 800 pence in cash per share, or about 6.3 billion pounds.
Understanding how organizations can prepare for a Cybersecurity Maturity Model Certification, or CMMC, assessment often starts with structured road maps…
The Department of Transportation is undergoing rapid transformation under Transportation Secretary Sean Duffy. Since stepping into the role in January 2025, Duffy…
The Army Contracting Command-Aberdeen Proving Ground and the Capability Program Executive Enterprise Software and Service, formerly Program Executive Office Enterprise,…
LMI has been awarded a $100 million Small Business Innovation Research Phase III indefinite-delivery/indefinite-quantity contract to support life cycle logistics and…
