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Zacks.com users have recently been watching Toyota Motor (TM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Toyota's hybrid strength, global scale and rising sales put it ahead of General Motors as both battle tariffs and slowing profits.
Toyota Industries shares dropped 11.9% on Wednesday after Toyota Motor's ¥4.7 trillion bid to take the company private came in well below investor expectations. The ¥16,300 per share offer was a steep discount to Tuesday's closing price of ¥18,400, sparking criticism from analysts who said the deal undervalues the firm's assets, including significant real estate holdings.
Toyota Industries slumped as much as 13% Wednesday, after Toyota Group's reported 4.7 trillion yen ($33 billion) deal to take the company private. That includes a tender offer of $26 billion for shares of Toyota Industries at 16,300 yen apiece, according to Reuters, sharply lower than 18,400 yen on Tuesday before the deal was announced.
Shares of Japanese forklift operator Toyota Industries fell more than 12% on Wednesday, after a $33 billion take-private offer its parent, Toyota Motor , fell short of investor expectations.
Toyota Industries' shares have risen sharply since late April, when the company said it had received various proposals, including one to take the business private.
Toyota Industries Corp. has received a $33 billion proposal to go private, a move that could increase the influence of the Toyoda family within Japan's largest corporate group.
Harvia Plc (CEO: Matias Järnefelt; hereafter “Harvia”) and Toyota Motor Corporation (Operating Officer, President: Koji Sato; hereafter “Toyota”) teamed up to produce a concept model for what is believed to be the world's first hydrogen-powered sauna (as of this writing, according to the investigations of Harvia and Toyota). The collaboration represents a step toward a more sustainable future for saunas by combining Harvia's sauna expertise with Toyota's hydrogen combustion technology.
Toyota Industries is expected to accept the $42 billion takeover bid by Toyota Motor and other group companies as early as Tuesday, the Nikkei newspaper reported on Monday.
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