Tomkins explores potential $7 billion sale: sources - Reuters

Tomkins Plc is exploring a sale that could value the private equity-owned global manufacturer of auto parts and building products at as much as $7 billion, several people familiar with the matter told Reuters. Onex Corp (OCX.TO) and the Canada Pension Plan Investment Board (CPPIB), which acquired Tomkins in 2010 for $5 billion, including the assumption of debt, are interviewing investment banks to advise them on a sale of the company, the people said. Tomkin's owners may seek to exit the company outright through a sale to another party or float it in the stock market, the people said. A process to explore both possibilities is expected to start in the first quarter of 2014, they added.

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