The Man Who Sold Britain was dog-sitting for his daughter in Oxfordshire when a second takeover approach landed for Meggitt, the FTSE 250 aerospace and defence company where he is chairman.
Sir Nigel Rudd, awarded his sobriquet by the Daily Mail for overseeing the sale of five big groups to overseas buyers, had been about to notch up deal number six without a hitch. He and the Meggitt board had approved a bid worth 800p a share, or £6.3 billion, from Ohio-based Parker Hannifin, a maker of industrial motion control systems and plane parts. Then TransDigm, an aggressive, private equity-style outfit based half an hour’s drive from Parker in Cleveland, fired over a “preliminary, non-binding” offer of 900p a share, or £7 billion.
Originally Appeared Here