NAGOYA, Japan — Toyota Motor supplier Pacific Industrial plans to take its shares private in a management buyout via a tender offer worth up to 110 billion yen ($749 million), Nikkei has learned, as it looks to switch to a long-term perspective amid seismic shifts in the automotive industry due to electrification.
A special purpose company funded by Pacific Industrial’s founding family and others will launch the tender offer as soon as within the month at around 2,000 yen per share.
