State-owned Japan Post launches A$6.5 bln takeover bid for Toll Holdings

Wed, 18 Feb 2015

By Paul McBeth Feb. 18 (BusinessDesk) - Japan Post, the state-owned postal service operator, has launched a A$6.5 billion takeover bid for ASX-listed Toll Holdings, an offer the Australian logistics firm's board has unanimously recommended. The A$9.04 per share offer was is a 49 percent premium to Toll's closing price yesterday, and the shares soared 47 percent to A$8.93 today. Shareholders on the register as at March 2 would also be entitled to the 13 Australian cents per share interim dividend Toll's board declared today. The Austral...

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