 Although doubts have been raised over other private equity takeovers of UK defence companies, Parker Hannifin Corps 6.3bn offer for Meggitt PLC is likely to succeed, says Berenberg. The 800p per share agreed cash offer for Meggitt is clearly attractive at a 71 premium, the investment bank said in a note to clients on Tuesday, adding that they expect the deal to complete because it is a relatively simple cash structure and is unlikely to encounter competition issues. 