PR Newswire
LONDON, Feb. 2, 2026
Toyota Fudosan’s tender offer drastically undervalues the Company
Elliott does not intend to tender its shares into the Revised TOB at the current terms and strongly encourages other shareholders not to tender
LONDON, Feb. 2, 2026 /PRNewswire/ — Elliott Investment Management L.P. and Elliott Advisors (UK) Limited («Elliott»), which advise funds that together have a significant investment in Toyota Industries Corporation («Toyota Industries» or the «Company») and are the Company’s largest independent shareholder, today issued the following statement:
https://mma.prnewswire.com/media/2705826/5748241/Elliott_WhiteText_Green_Logo.jpg
Elliott notes the non-binding statement issued today by an affiliate of Toyota Fudosan Co., Ltd. («Toyota Fudosan»). Elliott maintains its position that the revised tender offer by Toyota Fudosan at ¥18,800 per share (the «Revised TOB») very significantly undervalues Toyota Industries, as Elliott demonstrates in its public materials. Elliott continues to strongly disagree with Toyota Fudosan’s assertion that the Revised TOB price «reflects the intrinsic value of the Target Company«.
Elliott does not intend to tender its shares into the Revised TOB at the current terms and strongly encourages other shareholders not to tender.
Elliott’s previously released public materials can be found at https://elliottletters.com.
About Elliott
Elliott Investment Management L.P. (together with its affiliates, «Elliott») manages approximately $76.1 billion of assets as of June 30, 2025. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.
Investor Contacts:
Okapi Partners LLCNew York: Pat McHughT:+1 212 297 0720Toll Free: (877) 629-6357London: Christian JacquesT: +44 20 3031 [email protected]
Media Contacts:
LondonStijn van de GrampelElliott Advisors (UK) LimitedT: +44 20 3009 [email protected]
New YorkStephen SpruiellElliott Investment Management L.P.T: +1 (212) [email protected]
TokyoBrett WallbuttonAshton ConsultingT: +81 (0) 3 [email protected]
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FONTE Elliott Investment Management L.P.
Comparto con muchos la visión de que la universidad, salgo contadas excepciones va muy por detrás del mundo real, con una actitud muy reactiva.
Hace años que salà de ella, aunque continúo ligado, intentando terminar otros estudios que hace tiempo comence (soy un ferviente entusiasta de estar continuamente formándome… aunque solamente sea como intención, y el estar matriculado en alguna asignatura de una 2ª carrera me ayuda en ocasiones a autoexigirme un plus adicional).
Lo penoso es que solamente mantengo relación, muy de vez en cuando, con 2 profesores. Los únicos de los que guardo un buen recuerdo. Y casualidad esta que no son profesionales de la docencia, sino profesionales de la industria privada que están en la docencia por convicción e ilusión personal. Cuánto tiene que aprender la universidad de muchas escuelas de negocios…