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Market: LSE
Sector: Engineering
EPIC: TOMK
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Tomkins plc, along with its subsidiaries, is a global engineering and manufacturing company. It has two business groups: Industrial & Automotive and Building Products.

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Tomkins agrees £2.9 bln cash offer from Onex and Canadian pension fund

27th Jul 2010, 8:36 am Tomkins agrees £2.9 bln cash offer from Onex and Canadian pension fund

A buyout firm and a pension fund have agreed a £2.9 billion deal to buy the British car parts maker Tomkins (LON:TOMK, NYSE:TKS)

Onex and the Canadian Pension Investment Board have tabled a knock-out 325p a share cash bid, which has been accepted by the Tomkins board.

Onex is building an impressive portfolio of car parts businesses.

The Toronto-based firm teamed up with Carlyle Group in 2007 to buy Allison Transmission from General Motors. That same year it bought Husky Injection Molding Systems of Bolton, Ontario.

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