Parker Hannifin Corp (NYSE:PH)
$ 686.1 -0.29 (-0.04%) Market Cap: 88.35 Bil Enterprise Value: 97.08 Bil PE Ratio: 31.00 PB Ratio: 6.85 GF Score: 83/100

Parker-Hannifin Corporation All Cash Acquisition of Meggitt PLC Call Transcript

Aug 02, 2021 / 12:30PM GMT
Release Date Price: $305.46 (-2.11%)
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Parker-Hannifin announces offer to acquire Meggitt PLC. (Operator Instructions) I would now like to turn the call over to your host, Todd Leombruno, Chief Financial Officer. You may begin.

Todd M. Leombruno
Parker-Hannifin Corporation - Executive VP & CFO

Thank you, Kevin. Good morning, everyone, and thanks for joining this webcast in which Parker is announcing a recommended offer all-cash acquisition of Meggitt PLC.

As Kevin said, this is Todd Leombruno, Chief Financial Officer. Here with me today is Chairman and Chief Executive Officer, Tom Williams; and President and Chief Operating Officer, Lee Banks.

If I could direct you to Slide 2, our usual practice of announcing an acquisition is a little bit different today. So I want to discuss this first. As Meggitt is a Public Listed Company on the London Stock Exchange, this acquisition falls under the rules of the U.K. Takeover Code.

Under the U.K. Takeover Code, once the acquirer has a firm intention to make an

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot