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Second US suitor bids for UK aerospace manufacturer Meggitt

TransDigm trump Parker Hannifan’s offer from last week, as low post-Brexit valuations leave UK firms easy prey for foreign acquisition

The defence and aerospace company Meggitt has received a second takeover offer from a rival in the US that values the FTSE 250 manufacturer at £7.1bn, in a move that could spark yet another bid battle for a historic British company.

Meggitt, which makes wheels and brakes for military fighter jets, announced on Wednesday that US aerospace company TransDigm had submitted a 900p-a-share takeover bid.

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