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Japan: Toyota extends acquisition offer as authorities continue review

By  |  March 8, 2013

Toyota Industries Corporation of Tokyo, Japan has announced that its subsidiary, Industrial Components and Attachments II, Inc., has extended its tender offer to buy all outstanding Cascade Corporation shares for $65 a share. The offer was originally due to expire at midnight last Thursday, but has now been extended until Wednesday, March 27. The revised timeline comes after the Antitrust Division of the Department of Justice has requested further information on the acquisition, and as such Toyota agreed not to close the transaction until at least 30 days after providing the information without the Antitrust Division’s consent. The Division continues to review the deal.

 

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