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ELLIOTT HEAPS PRESSURE ON TOYOTA WITH 5% STAKE IN GROUP FIRM SLATED FOR BUYOUT

  • NEWS Desk Global
  • 2 days ago
  • 1 min read

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Elliott Investment Management has lifted its stake in Toyota Industries to 5.01%, further increasing pressure on automotive giant Toyota Motor, which plans to buy out the forklift manufacturer, a key group firm.

The U.S. activist investor, which spent 268 billion yen ($1.7 billion) on acquiring the stake, said in a Japanese regulatory filing on Wednesday that the holding was acquired for investment purposes and potentially making important shareholder proposals.

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