Toyota Industries to accept Toyota group's planned tender offer, Kyodo says
TOKYO (Reuters) -Toyota Industries Corp plans to accept a tender offer by Toyota Motor Corp, its chairman Akio Toyoda and others, and is making arrangements to announce its intention as early in May, Kyodo news agency reported on Monday.
Bloomberg News reported last month Toyota Motor Chairman Toyoda has proposed acquiring supplier Toyota Industries in a possible 6 trillion yen ($41 billion) deal.
Following the report, Toyota said it was considering a potential buyout of the key parts supplier. If realised, that would be a landmark deal for Japan Inc that transforms its most influential corporate group.
Toyota and Toyota Industries did not immediately respond to requests for comment on the Kyodo report.
($1 = 144.8700 yen)
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