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UK defence firm Meggitt bought by US giant

The aerospace technology firm agrees to a 6.3bn takeover bid from US company Parker-Hannifin.

The UK-based firm said the jump in profits was driven by an economic rebound in Britain and Hong Kong.

Its shares surged by almost 50% in pre-market trade after a report that it planned to go private.

Supermarket supplier Arla Foods says a lorry driver shortage has forced it to cut deliveries by up to 25%.

British American Tobacco says its future lies in getting people to switch to nicotine alternatives.

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