Ex-Tomkins boss Hutchings is disappointed by sale price

first_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof THE former boss of engineering group Tomkins yesterday attacked the £2.9bn takeover of the firm as “disappointing” for shareholders.Greg Hutchings, who spent 17 years with the firm, said yesterday the proposed takeover of the British engineering group by US private equity Onex Corporation and the Canada Pension Plan Investment Board was “disappointing” for shareholders. He added: “I am amazed that some shareholders are happy to see Tomkins being sold at the bottom of the market.”Hutchings was not the only person to put up a public protest of the takeover. On Tuesday, Standard Life Investments, criticised the takeover and said that the transatlantic offer “undervalues Tomkins’ future”.But the takeover has already received an overwhelming approval from 90 per cent of Tomkins shareholders, which voted the deal through on Tuesday.Among those voting in favour of the deal were Schroders and Aberdeen Asset Management. whatsapp Wednesday 1 September 2010 7:53 pm Tags: NULL KCS-content Ex-Tomkins boss Hutchings is disappointed by sale price Share Show Comments ▼last_img