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Elliott Management seeks to derail Toyota Industries buyout by offering market price for shares

Elliott Management is offering to buy Toyota Industries shares at market price to block a buyout. The activist claims the current bid undervalues the firm.

Insights:
Elliott Management has offered to buy shares of Toyota Industries Corporation from shareholders who had previously agreed to a take-private tender offer by a consortium led by Toyota Motor Corporation . This move, announced on February 24, 2026, could reduce shareholder support for the Toyota bid and impact the outcome of the attempted reshaping of the Toyota group. The development is considered highly relevant to broader discussions regarding corporate governance and cross-shareholding practices in Japan JPJP.
FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su/File Photo
FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su/File Photo
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