Toyota raises bid for Toyota Industries to $30 billion
Toyota raised its offer for Toyota Industries to 20,600 yen per share to settle a dispute with Elliott. The fund has agreed to tender its shares in the deal.
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Toyota Motor Corporation has increased its buyout offer for Toyota Industries Corporation to approximately $30 billion, successfully concluding a months-long dispute with activist investor Elliott Investment Management. The revised bid of 20,600 yen ($132) per share represents a nearly 10% premium over the previous offer of 18,800 yen. Following the announcement, Elliott confirmed it would tender its shares, describing the raised price as a significant victory for minority shareholders.
