Toyota Industries is expected to accept the $42 billion takeover bid by the world’s biggest automaker Toyota Motor Corp and other group companies as early as Tuesday, the Nikkei newspaper reported on Monday.
The group companies are expected to take Toyota Industries private after it accepts the tender offer, the report said.
Toyota Motor had said in April it was considering participating in a potential buyout of major parts supplier Toyota Industries.
Kyodo news agency reported in May that Toyota Industries plans to accept a tender offer by Toyota Motor and was making arrangements to announce its intention as early as the same month.
