Reported 2 days ago
Shares of Toyota Industries plummeted over 12% following a $33 billion take-private proposal from parent company Toyota Motor that failed to meet investor expectations. The offer price of 16,300 yen per share was significantly lower than the prior closing price, leading analysts to suggest it undervalues the company's assets. Despite the disappointing offer, the deal aims to provide Toyota Industries with a long-term business perspective as part of a broader government push for better corporate governance among Japanese conglomerates.
Source: YAHOO