Toyota Tender Offer for Toyota Industries Ends Monday
The tender offer to take Toyota Industries private closed Monday at 20,600 yen per share. Results are due Tuesday for the deal valued at 30 billion dollars.
Xurve View
Insights:
Xurve View
Toyota Motor Corporation has concluded its tender offer to take its supplier, Toyota Industries Corporation, private. The offer period ended on Monday, with the results of the transaction expected to be announced on Tuesday afternoon in Tokyo.
The final offer was set at 20,600 yen per share, valuing the deal at approximately $30 billion. This price represents a 26% premium over the initial proposal of 16,300 yen per share made last year. The automaker raised its bid twice over several months to resolve a standoff with the activist investor group Elliott Investment Management.
