Activist hedge fund Elliott Investment Management has agreed to tender its stake in Toyota Industries after Toyota raised its take-private bid to 20,600 yen per share, valuing the deal at $30bn, according to a report by Reuters.
The move ends a months-long standoff between Elliott and Toyota over pricing, with the activist fund describing the revised offer as an “improved outcome” for minority shareholders. Toyota Industries, also known as TICO, had previously received offers of 16,300 yen and l...
Continue Reading
Sign up for FREE to read the full article and access 128K+ alternative investment headlines.