Meggitt shares surged on Wednesday after the defence and aerospace engineer said he it had received an unsolicited takeover approach from US aerospace manufacturer TransDigm at 900p per share in cash.
Meggitt said there can be no certainty that any firm offer will be made by TransDigm nor as to the terms.
The company announced last week that it had agreed to be bought by US rival Parker-Hannifin for £6.3bn. Under the terms of the deal, Meggitt shareholders would receive 800p per share.
The transaction also includes certain binding commitments that will ensure that Meggitt continues to meet its contractual obligations in respect of goods and services supplied to the UK government, and maintain its headquarters in the UK, among other things.
Meggitt said its directors continue to recommend the offer by Parker, as it represents an “attractive proposition” for shareholders and broader stakeholders, “including its employees, pension schemes and customers, together with HM Government, for the long-term”.
At 1540 BST, the shares were up 17% at 836.20
