TOKYO: Toyota Industries Corp. said it received a US$33 billion offer to take the company private in a move that could lead to the founding family strengthening its grip over Japan’s biggest business empire.
The deal will involve a tender offer for the shares of the supplier of textile looms, forklifts and parts for Toyota Motor Corp.’s cars for ¥16,300 a share, which is 11 per cent below Toyota Industries’ closing price on Tuesday. The total amount required for the acquisition by the Toyota Group is around ¥4.7 trillion ($32.9 billion), a company spokesperson said.
