28 July 2010
- Available in:
- English
Freshfields advises CPPIB and Onex on £2.89 billion Tomkins acquisition
International law firm Freshfields Bruckhaus Deringer has advised Canada Pension Plan Investment Board and Onex Corporation on their recommended cash acquisition, announced today, of Tomkins plc, the UK-listed global engineering and manufacturing group. The offer values Tomkins' existing issued and to be issued share capital at approximately £2.89bn.The Freshfields team advising on the deal was led by London corporate partners David Higgins and Simon Weller and senior associate Mark Austin. Employment and pensions advice was provided by partners Jocelyn Mitchell and David Pollard. Anti-trust advice was provided by partner Nick Spearing and senior associates Martyn Chu and Satyen Dhana.
Freshfields corporate partner Simon Weller commented: ‘We are delighted to act for CPPIB and Onex on this significant take private. The deal shows the growing importance of Canadian financial investors in the UK market.’
David Higgins and Simon Weller previously advised CPPIB in 2006 as part of the Osprey consortium (comprising CPPIB, Colonial First State, Industry Funds Management and 3i Infrastructure) on the £2.2bn take private of UK utilities group AWG plc (owner of Anglian Water). In 2009 they also advised on CPPIB’s takeover of Macquarie Communications Infrastructure Group for A$1.37bn.
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