Onex, Canadian Pension Board Eye $4.4B Tomkins Bid

Law360, New York (July 19, 2010, 5:21 PM EDT) -- Canadian private equity firm Onex Corp. and the Canada Pension Plan Investment Board are considering buying Tomkins PLC for about £2.9 billion ($4.4 billion), the British engineering and manufacturing company said Monday.

Tomkins' board confirmed that the pair has proposed paying 325 pence per share in cash for the company and said it had let Onex and the CPPIB conduct due diligence on its operations.

The board has considered the proposal and said due diligence is currently "at an advanced stage."

Onex and the CPPIB have...
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