Aug 2 (Reuters) - U.S. industrial firm Parker-Hannifin PH.N said on Monday it has agreed to buy Meggitt MGGT.L in a deal that values its British rival at 6.3 billion pounds ($8.76 billion).
Parker-Hannifin said Meggitt shareholders will receive 800 pence in cash per share held, which reflects a 70.5% premium to the London-listed company's closing price on Friday.
The takeover is expected to add to earnings in the first full 12 months after the deal closes, Parker-Hannifin added.
($1 = 0.7190 pounds)
(Reporting by Muvija M in Bengaluru; Editing by Sriraj Kalluvila)
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