US EditionShareholders Lash Out at $33bn Take-Private of Toyota Subsidiary
8 Articles
8 Articles
Toyota Industries’ shares plummeted by more than 12% on Wednesday. This movement meant a strong market response after Toyota Motor, its parent company, revealed its plans to privatize it. This announcement was accompanied by an offer that did not meet investors’ previous expectations, generating a marked decline in the value of the shares. Details of Toyota Motor’s offer According to the report, Toyota Motor proposed an agreement valued at 4.7 t…
Toyota Industries Shares Drop on Buyout Discount Blowback
Toyota Industries Corp. shares fell the most in nine months after the Toyota group unveiled a ¥4.7 trillion ($33 billion) plan to privatize Toyota Industries Corp., drawing sharp criticism from investors and analysts who say the proposal significantly undervalues the company.
The shares of Toyota Industries fell almost 12% in this Wednesday’s operations in Tokyo, after the $33 billion buyback offer presented by its parent company, Toyota Motor, did not meet investors’ expectations. Toyota Motor plans to withdraw the Japanese forklift operator from the stock market in a complex transaction for which it offered 16,300 yen per share. This offer price was well below the closing of 18,400 yen registered on Tuesday, before…
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