丰田子公司私有化计划引发激进投资者争端

丰田将旗下附属公司丰田自动织机私有化的计划引发了与激进投资者的冲突。6月公布的初步报价本月上调15%至每股¥18,800,但总部位于美国的Elliott Investment Management批评该报价严重低估了公司价值。

丰田将旗下附属公司——即以TICO闻名的丰田自动织机——私有化的报价最初是一个不起眼的交易,但已演变为激进投资者追求股东最大价值与日本强调利益相关者和谐而非回报的企业文化之间的战场。6月,丰田推出每股¥16,300的初步报价。以美国Elliott Investment Management为首的反对派持有TICO 6.7%的股份,要求更高的价格。本月,丰田将报价上调15%至每股¥18,800,交易估值约278亿美元,但Elliott认为这仍低估了TICO近40%的价值——作为独立实体则更多。Elliott抨击该报价不透明且未达到基本治理标准。这一争端成为日本交易的一个测试案例,凸显了传统做法与全球激进投资者压力的紧张关系。自公布以来,Elliott一直带头推动更好条款。

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Toyota chairman Akio Toyoda wears MAGA hat at NASCAR-themed event in Japan; days later Toyota details $912 million U.S. investment

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Akio Toyoda, Toyota’s chairman, appeared at a U.S.-themed NASCAR exhibition at Fuji Speedway wearing a red “Make America Great Again” hat and a Trump–Vance shirt. The appearance came two days before Toyota announced a $912 million plan to expand hybrid production at five U.S. plants, as Toyoda stressed that any tariff policies should ultimately benefit customers.

美国激进基金 Elliott Investment Management 反对拟议的 6.1 万亿日元(390 亿美元)丰田自动织机私有化计划,敦促其他少数股东抵制该收购要约。该基金认为,该公司独立运营可实现更大价值。丰田集团修订报价为每股 18,800 日元,而 Elliott 认为其内在价值为每股 26,000 日元。

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