Toyota Industries Shares Drop on Buyout Discount Blowback
Toyota Industries Corp. shares fell the most in nine months after the Toyota group unveiled a ¥4.7 trillion ($33 billion) plan to privatize Toyota Industries Corp., drawing sharp criticism from investors and analysts who say the proposal significantly undervalues the company.
The planned tender offer of ¥16,300 per share from a group led by Toyota Motor Corp. 's Chairman Akio Toyoda represents an 11% discount to Tuesday's closing price for the maker of textile looms, forklifts and car components. Toyota Industries stock fell as much as 13% in early morning trading in Tokyo, the biggest intraday drop since August 2024.
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