Toyota raises bid for Toyota Industries to 20,600 yen

Toyota Motor Corporation has announced its intention to raise the tender offer price for its group affiliate, Toyota Industries Corporation, according to a regulatory filing released on Monday. The automaker is now offering 20,600 yen per share, an increase from its previous bid of 18,800 yen, provided certain conditions are met. The filing, published in Japan, also confirmed that the deadline for the offer has been extended again to March 16, moving it back from the original closing date of March 2. The revised offer is valued at approximately $132 per share based on current USD/JPY exchange rates. This strategic move aims to solidify the automaker's position within its group companies as it continues to navigate the evolving industrial landscape. The extension provides shareholders with additional time to evaluate the improved terms of the acquisition for the forklift and machinery manufacturer.