Elliott Turns Up the Heat on Toyota: Billion-Dollar Showdown Over Japan's Biggest Buyout [Yahoo! Finance]
TOYOTA INDUS CRP UNSP/ADR (TYIDY)
NASDAQ:AMEX Investor Relations:
toyota-industries.com/investors
Company Research
Source: Yahoo! Finance
Elliott Investment Management has taken aim at Toyota Industries Corp. ( TYIDY ), quietly amassing nearly a 5% stake and challenging what it calls an undervalued buyout led by Akio Toyoda. The hedge fund told management that the proposed 16,300-per-share offer significantly underprices the company, pressing for a more transparent process and stronger governance. The 4.7 trillion ($30.5 billion) deal, one of Japan's largest-ever privatization attempts, would see Toyota Industries absorbed under Toyota Fudosan Co.an unlisted entity chaired by Toyoda himselftightening the family's control over the wider Toyota group. Warning! GuruFocus has detected 9 Warning Signs with TYIDY. Is TYIDY fairly valued? Test your thesis with our free DCF calculator. But the market is already speaking louder than the offer. Toyota Industries' shares closed at 17,250 in Tokyo, comfortably above the proposed buyout price, and have stayed there since late August. Analysts are siding with shareholders: Uni
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News
- Elliott Takes Toyota Industries Stake, Contests Buyout Price [Yahoo! Finance]Yahoo! Finance
- Elliott said to challenge Toyota Industries' privatization price as it builds stake [Seeking Alpha]Seeking Alpha
- Elliott Statement on Toyota Industries Corporation [Yahoo! Finance]Yahoo! Finance
- Elliott Statement on Toyota Industries Corporation [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Elliott takes Toyota Industries stake to almost 5%, Bloomberg News reports [Yahoo! Finance Canada]Yahoo! Finance Canada