Toyota hostile takeover?

Yesterday, there was word that a little known unlisted Japanese corporation called Teramento Corp, purchased 51% of Toyota, Sony, Mitsubishi Heavy Industries, Fuji TV network and Astellas Pharma according to securities filings by Teramento detailing the 20 trillion yen or $187 billion in stock purchases.

Today, however, representatives from Sony have claimed this is impossible and Toyota and the others claim they have no knowledge of this transactions. Japanese financial watchdog, the Financial Services Administration has ordered Teramento to undo the filing.

So it seems that Toyota wasn’t taken over, but in the world finance, this situation is bizarre to say the least. But it sure makes you wonder, could any publicly held automaker just get hostily taken over just like that?


Source: Bloomberg

[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Toyota[/tags]

Chris Chin

Chris Chin is the Editor-In-Chief of egmCarTech and is a regular contributor to Automobile Magazine.

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