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Elliott, Toyota Strike $43 Billion Deal to Privatize Industries

3/2/2026

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Summary

Story summary

Elliott Investment Management and Toyota have agreed to privatize Toyota Industries Corp. at ¥20,600 per share, valuing the deal at about ¥6.7 trillion ($43 billion).
The bid is 9.6% higher than prior offers, reflecting pressure from Elliott that earlier bids undervalued the company.
The deal aims to resolve cross-shareholding within the Toyota Group, which has been criticized for insulating management from investors.

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Story summary

Elliott Investment Management and Toyota have agreed to privatize Toyota Industries Corp. at ¥20,600 per share, valuing the deal at about ¥6.7 trillion ($43 billion).
The bid is 9.6% higher than prior offers, reflecting pressure from Elliott that earlier bids undervalued the company.
The deal aims to resolve cross-shareholding within the Toyota Group, which has been criticized for insulating management from investors.