Toyota stock in focus: Elliott calls Toyota Industries bid “undervalued” as a Feb. 12 deadline looms
Toyota Motor’s U.S. shares closed at $231.42, down 0.3% Friday, as Elliott urged investors to reject Toyota Group’s bid for Toyota Industries, calling it nearly 40% too low. The tender offer, raised last week to 18,800 yen per share, runs until February 12. Toyota acknowledged Elliott’s letter and said it is monitoring developments. U.S. markets were closed Monday for Martin Luther King Jr. Day.
