The Toyota Group has increased its buyout offer for Toyota Industries Corp by 15%, lifting the implied valuation to JPT6.1tn ($39bn), after pressure from activist hedge fund Elliott Investment Management, according to a report by Bloomberg.
Toyota Motor Corp said it will now offer JPY18,800 per share for the outstanding shares it does not already own, up from the original JPY16,300 bid announced in June last year. The tender offer is set to open on 16 January and will run until 12 February.
The...
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