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  "documentTitle": "Toyota Industries Corporation (6201)",
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      "text": "1. The TICO Board and SC ultimately capitulated by recommending a Revised TOB price of ¥18,800 per share - only ¥200 / +1% more than the price that, just days before, they considered wholly insufficient and had “significantly deviate[d]” from their expectation",
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      "text": "2. Share prices of TICO’s publicly traded stakes rose substantially on January 13 (e.g. TMC by 7.5%), resulting in a ¥1,000+ per share increase in TICO’s post-tax value - an increase that was completely ignored when the Revised TOB price was agreed",
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      "text": "The TICO Board and SC ultimately capitulated by recommending a Revised TOB price of ¥18,800 per share - only ¥200 / +1% more than the price that, just days before, they considered wholly insufficient and had \"significantly deviate[d]\" from their expectation",
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      "text": "1-Day Change in Value of Publicly Traded Stakes: ¥1,005",
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      "text": "The Board and SC recommended an offer which was wholly insufficient and totally ignored the ¥1,000+ per share increase in the post-tax value of TICO’s publicly traded stakes the day before",
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      "text": "The TICO Board and SC (i) confirmed that the offer price still \"significantly deviates\" from expectations and must factor in the risk of price fluctuations due to increasing share price of the stakes held by TICO in TMC, Aisin, Denso and Toyota Tsusho; and (ii) requested that Fudosan \"substantially increase\" the offer price to safeguard minority shareholder interests — TICO/SC Negotiation Record",
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