On Monday 11 April, the European Commission approved the proposed acquisition of Meggitt by Parker. The authorisation is subject to full compliance with the commitments offered by Parker.
Parker (USA) and Meggitt (UK) are the world’s leading suppliers of aerospace components, with extensive product portfolios. They compete, among other things, in the design, manufacture and supply of aircraft wheels and brakes and aerospace air valves.
The investigation revealed that the transaction would further reduce the already limited number of suppliers of wheels and brakes for small general aviation aircraft, corporate aircraft, civil and military helicopters and military fixed-wing drones.
Parker has agreed to divest its entire aircraft wheels and brakes division. This commitment includes the divestiture of Parker’s plant in Ohio, USA, which is accompanied by a series of provisions to ensure that a buyer can operate the business viably and independently of the merged entity.
These commitments completely eliminate any overlap in the design, manufacture and supply of aircraft wheels and brakes between Parker and Meggitt on a worldwide basis.
The commitments therefore ensure that the current level of competition is maintained in those markets where the European Commission had identified competition concerns and that customers retain sufficient choice.
Link to the case: https://aeur.eu/f/17w (Original version in French by Lionel Changeur)