Elliott heaps pressure on Toyota with 5% stake in group firm slated for buyout
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Elliott Investment Management has increased its stake in Toyota Industries to 5.01%, pressuring Toyota Motor's buyout plans. Elliott spent $1.7 billion and criticized the deal for undervaluing Toyota Industries and lacking transparency. Other investors demand more disclosure, as the deal strengthens the Toyoda family's influence. Toyota Industries' shares trade above the offer price, indicating expectations for a better offer. Elliott's move adds pressure on Toyota Motor, which holds 25% of Toyota Industries.
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