Toyota Industries Buyout Bid Dips 16% Below Its Stock Holdings
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The Toyota Industries Corp. Nagakusa plant in Obu, Aichi Prefecture, Japan.Toyota group’s proposed ¥4.7 trillion ($30 billion) offer to privatize a forklift maker has prompted one of the world’s most tenacious activist funds to call it a lowball offer. A closer look at the target’s shareholdings helps explain why. The buyout target, Toyota Industries Corp., owns shares valued at ¥5.6 trillion, just shy of the company’s own market value, according to data compiled by Bloomberg. That makes the June buyout offer nearly ¥1 trillion, or 16%, below the value of those shareholdings.