Toyota Delays Deadline for $35 Billion Deal Opposed by Elliott

Toyota has delayed the deadline for its $35 billion privatization bid of a key subsidiary, extending the tender period to secure more shareholder backing amid growing opposition. The move signals the Japanese conglomerate is struggling to gain sufficient support for the deal, which faces resistance from activist investor Elliott Investment Management. Elliott, known for aggressive shareholder campaigns, has actively lobbied against the privatization, arguing it undervalues the unit and harms minority investors. The extension suggests Toyota may need to revise terms or intensify negotiations to salvage the deal, which was initially expected to close sooner. The outcome will test Toyota’s ability to balance corporate strategy with shareholder demands in a high-stakes financial and governance battle.