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.

Toll Holdings' shares leap on Japan Post bid

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...

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