Takeover talk boosts Meggitt

Suzie Neuwirth
ENGINEERING and aerospace firm Meggitt was yesterday the biggest climber on the FTSE 100, amid rum­ours of a potential takeover bid from United Technologies.

The company’s shares soared over eight per cent in early trading and closed 9.6 per cent higher at 537p, after the Daily Mail wrote that the US conglomerate may be preparing a 625p cash offer.

Meggitt declined to comment while United Technologies could not be reached for comment.

Meggitt’s revenues rose by two per cent to £1.64bn last year.