Reuters with the report, in summary:
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Shares of Toyota Industries surged on Monday after Toyota announced it was exploring a potential investment in the key parts supplier.
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Toyota Industries shares remained untraded due to a flood of buy orders, with bids suggesting a 23% jump to the daily limit of 16,225 yen.
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If realised, it would be Toyota Industries’ biggest one-day gain in over 40 years, according to LSEG data.
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On Saturday, Toyota said it was considering options including a partial investment in Toyota Industries.
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Bloomberg reported that Toyota Chairman Akio Toyoda and his founding family had proposed a 6 trillion yen ($42 billion) buyout.
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Toyota Industries confirmed it had received proposals regarding going private via a special purpose company but denied receiving a formal buyout offer from Toyota or its chairman.
This article was written by Eamonn Sheridan at www.forexlive.com.
