ERJ staff report (R&PN)
London-With the biggest hurdle out of the way, Pinafore Acquisitions Ltd. now needs approval from governmental agencies to complete its purchase of Tomkins P.L.C.
That doesn’t mean Pinafore won’t face any difficulties in its bid to buy the giant manufacturer of belts, hose and other products for an estimated $4.5 billion in cash, a Pinafore spokesman said, but there’s far less chance anything major will arise. He noted that governmental agencies are simultaneously reviewing the proposed transaction.
A Tomkins spokeswoman said the companies anticipate…