Defence and aerospace technology firm Meggitt has agreed a £6.3bn takeover deal by US firm Parker-Hannifin.
The FTSE 250 company confirmed an offer from the US engineering technology giant valuing Meggitt at 800p per share.
It said the move represents a 70% premium on the share value of the company at the end of trading on Friday, when it was at 469.1p per share.
This article was originally published by Sky.com. Read the original article here.