US EditionElliott Says Offer for Toyota Industries Is 40% Undervalued, Proposes Alternative Plan
Elliott Investment Management values Toyota Industries at ¥26,134 per share, nearly 40% above Toyota Fudosan's offer, and promotes a standalone plan for greater shareholder returns.
- Elliott said Toyota Industries' intrinsic value is more than 26,000 yen per share, almost 40% above Toyota's revised offer price of 18,800 yen per share.
- Elliott, Toyota Industries' largest minority shareholder, does not intend to tender its shares into the revised offer and encourages other shareholders not to tender.
- Elliott believes the revised tender offer undervalues Toyota Industries and pursuing an alternative standalone plan could lead to a valuation above 40,000 yen per share by 2028.
51 Articles
51 Articles
Elliott Opposes Toyota Fudosan's Revised Tender Offer for Toyota Industries Corporation
Elliott, the largest independent shareholder of Toyota Industries, believes the revised tender offer very significantly undervalues the Company and does not intend to tender its shares LONDON, Jan. 18, 2026 /PRNewswire/
Elliott says offer for Toyota Industries is 40% undervalued, proposes alternative plan
Activist investor Elliott Investment Management on Sunday said the Toyota Group's bid to take Toyota Industries private undervalues the forklift maker by almost 40% and proposed a growth plan that it said would more than double the company's value by 2028.
The standard holder of the shareholder sling against the Japanese group seeking to remove Toyota Industries from the market, Elliott considers the revised offer still undervalued by 40% and proposes an alternative plan.
Elliott rejects Toyota Fudosan tender offer for Toyota Industries
Activist investor Elliott Investment Management has publicly opposed Toyota Fudosan’s revised tender offer for Toyota Industries Corporation, arguing that the bid significantly undervalues the company and undermines Japan’s corporate governance reforms. In an open letter to shareholders, Elliott, the largest independent minority shareholder in Toyota Industries, said it does not intend to tender its shares into the JPY18,800-per-share offer and …
Elliott opposes group buyout of Toyota Industries
Elliott Investment Management opposes a proposed ¥6.1 trillion ($39 billion) privatization of Toyota Industries, urging other minority shareholders to resist the bid and arguing it could achieve greater value on its own. The company has an intrinsic net asset value of ¥26,000 per share, the U.S.…
Elliott Opposes Toyota Fudosan’s Revised Tender Offer for Toyota Industries Corporation
Elliott, the largest independent shareholder of Toyota Industries, believes the revised tender offer very significantly undervalues the Company and does not intend to tender its shares LONDON, Jan. 18, 2026 /PRNewswire/ — Elliott Investment Management L.P. and Elliott Advisors (UK) Limited (“Elliott”), which advise funds that together have a significant ownership stake in Toyota Industries Corporation […] The post Elliott Opposes Toyota Fudosan’…
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