Global engineering and manufacturing company Tomkins PLC (TOMK.LN) said Tuesday it and Pinafore Acquisitions Ltd, a new company formed by Onex Corp (OCX.T) and Canada Pension Plan Investment Board, have agreed the terms of a recommended offer that values Tomkins at GBP2.89 billion.

MAIN FACTS:

-Tomkins shareholders will receive 325 pence in cash for each Tomkins share (which results in 1,300 pence in cash for each Tomkins ADR, each of which evidences an American Depositary Share representing four Tomkins Shares).

-The price of 325 pence for each Tomkins share equates to a premium of 41% to the closing price of 230.30 pence per Tomkins share on July 16.

-The acquisition will be implemented by way of a court-sanctioned scheme of arrangement.

-Cash consideration payable by Pinafore under the terms of the acquisition will be financed through a combination of equity and debt financing.

-The debt financing, consisting of facilities of $3 billion, has been arranged and fully underwritten by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Barclays Capital, RBC Capital Markets and UBS Securities LLC.

-Tomkins shares closed Monday at 307.5 pence valuing the company at GBP2.71 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
Tomkins (NYSE:TKS)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024 Click aqui para mais gráficos Tomkins.
Tomkins (NYSE:TKS)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024 Click aqui para mais gráficos Tomkins.