Toyota tender offer for Toyota Industries closes, results due Tuesday

Group 1 - Toyota's tender offer to acquire Toyota Industries at 20,600 yen per share is set to close, with results expected on Tuesday [1] - The offer price was increased from 18,800 yen per share, valuing the deal at approximately $30 billion, following negotiations with Elliott Investment Management [2] - The final offer represents a 26% premium over Toyota's initial bid of 16,300 yen per share [2] Group 2 - Elliott Investment Management, which previously rejected lower offers, agreed to tender its shares after the price increase, viewing it as a favorable outcome for minority shareholders [3] - For the tender offer to succeed, 42.01% of minority shareholders must accept the offer, excluding Toyota Motor's existing 24.66% stake [3]