Tomkins, which is backed by Onex Corp. and Canada Pension Plan Investment Board, has agreed to sell its Schrader division to Madison Dearborn Partners. The sale price is $505 million cash, plus a small minority equity interest in the parent of the purchasing company. The deal is expected to close in the second quarter. Schrader [...]
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LONDON (Reuters) – Car parts maker Tomkins Plc (TOMK.L) received a $4.5 billion bid approach from a Canadian consortium, the latest example of North American buyers eager to capitalise on sterling weakness to snap up British assets. Shares in Tomkins soared 33.1 percent to 306.6 pence by 0920 GMT, making the company the biggest riser [...]