# Singapore competition regulator clears Parker-Hannifin's acquisition of Meggitt

The Competition and Consumer Commission of Singapore cleared the proposed acquisition of Meggitt PLC by Parker-Hannifin Corporation, concluding it will not substantially lessen competition in Singapore.

- Type: Acquisition
- Announced: 2022-03-28
- Where: Singapore
- Value: $8.80B (6.30B GBP)
- Status: announced
- Products: motion and control technologies, aerospace components and subsystems, maintenance repair and overhaul services
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Parker-Hannifin](https://endata.com/companies/479.md) (acquirer)
- [Meggitt](https://endata.com/companies/1177.md) (target)

## Sources

- [ccs.gov.sg](https://www.ccs.gov.sg/media-and-events/newsroom/announcements-and-media-releases/cccs-clears-proposed-acquisition-by-parker-hannifin-corporation-of-meggitt-plc/), 2022-03-28: "CCCS has concluded that the Proposed Transaction, if carried into effect, will not infringe the section 54 prohibition of the Competition Act 2004."
- [wired-gov.net](https://www.wired-gov.net/wg/news.nsf/articles/Mergers+Commission+approves+Parkers+acquisition+of+Meggitt+subject+to+conditions+12042022152500?open=), 2022-04-12: "The remedy package offered by Parker will preserve competition in these markets and ensure that aerospace and defence customers have access to sufficient choice of component suppliers and will continue benefitting from competitive prices."
- [vitallaw.com](https://www.vitallaw.com/news/acquisitions-mergers-news-aircraft-parts-maker-parker-conditionally-approved-to-acquire-meggitt/ald017fa6cc027e23100096dc000d3a8daaf407), 2022-04-12: "The U.S. company Parker will divest its wheels and brakes division to complete the transaction."
- [eaccnl.eu](https://eaccnl.eu/mergers-eu-commission-approves-parkers-acquisition-of-meggitt-subject-to-conditions/), 2022-04-12: "The remedy package offered by Parker will preserve competition in these markets and ensure that aerospace and defence customers have access to sufficient choice of component suppliers."
- [aviationweek.com](https://aviationweek.com/aerospace/manufacturing-supply-chain/brussels-waves-through-parker-meggitt-merger-conditions), 2022-04-12: "Parker Hannifin has committed to divest its aircraft wheels and brakes business to secure European Commission approvals for its acquisition of UK-based aerospace supplier Meggitt."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.