Toyota Industries shares have a chance to rise due to a potential buyout by Toyota Motor. This was reported by Reuters, UNN reports.
Details
On Monday, April 28, automaker Toyota announced that it is considering buying out a key parts supplier with a market value of 4 trillion Japanese yen ($28 billion - ed.).
According to Reuters, such a price increase could be the largest single-day jump in shares in at least the last four decades, namely since the beginning of 1984. Toyota recently reported in a report on the Tokyo Stock Exchange that it is considering various options, including partial investments in Toyota Industries.
In the same statement, Toyota Industries confirmed that it had received proposals to enter the private market through a special purpose company, but denied receiving a buyout offer from the chairman of Toyota or the Toyota Group.