Canadian pension funds are continuing to look to the UK to carry out large private equity-style deals with the Canada Pension Plan Investment Board aiming to carry out the largest European takeover of a listed company in over two years.

CPP has teamed up with Canadian buyout firm Onex to bid for UK engineering and manufacturing company Tomkins, according to a statement from Tomkins, leading Tomkins' share price to rise today by 32% at 12.30 BST to 304 pence per share.