Toll Holdings' shares leap on Japan Post bid

The Australian transport firm’s share price surged after Japan Post's bid, reflecting the bumper 49% premium on offer.
February 22, 2015

Toll Holding's share price rose 48% after Japan Post offered A$6.5 billion for the Australian freight and logistics firm on Wednesday, the biggest offer for an Australian company from Japan ever.

The Australian company's board recommended the all-cash takeover offer from state-owned Japan Post at A$9.04 per share. The shares closed on Friday at A$8.97.

Japan Post’s offer implies a 49% premium to Toll’s share price close on February 17 of A$6.08 and a 53% premium to the shares’ three-month VWAP.

“With what we consider a generous offer, we believe it is unlikely the proposed takeover will fail,” said Andre Fromyhr, an analyst...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222