Elliott Management, one of the world’s most prominent activist investors, has taken a significant stake in Toyota Industries, putting itself in the middle of one of the world’s largest and most controversial take-private attempts.
Toyota Industries, which makes forklifts, car parts and textile looms, disclosed in a filing on Tuesday that Elliott had taken a stake of more than 3 per cent by the end of September. That position, say people familiar with the matter, has since increased to just under 5 per cent.
Elliott has told management that the price being offered by Toyota Motors of ¥16,300 a share to take the company private was too low.
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