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BUZZ-Meggitt: strategy review speculation lifts stock

Reuters - UK Focus

** Meggitt (Other OTC: MEGGF - news) extends gains from Monday fuelled by speculation, reported in the Financial Times, the defence & aerospace engineer has begun a strategy review following an approach earlier in the year from a US peer

** Stock, up 2.3%, top of FTSE 100 (NasdaqGS: Z - news) & most actively traded on index, with 61% of 90-day daily avg volume having gone through in over an hour

** FT says Rothschild, one of Meggitt's longstanding financial advisers, rumoured to be drawing up potential defence plans

** A merger with defence contractor Cobham -- up 1%, also having risen in the previous session -- is said to be among the options under consideration, the newspaper reports (RM: tricia.wright1.thomsonreuters.com@reuters.net)