The Business Times
SUBSCRIBERS

Japan Post buys Toll Holdings for A$6.49b

Buying the Australian firm gives the state-owned company a transport network ahead of an IPO this year

Published Wed, Feb 18, 2015 · 09:50 PM
Share this article.

Sydney

JAPAN Post Holdings Co agreed to buy Australia's Toll Holdings Ltd for A$6.49 billion (S$6.9 billion), gaining a transport network in the faster-growing Asian region ahead of an initial public offering (IPO) this year.

The offer, the biggest by a Japanese company for an Australian firm, values Toll's shares at A$9.04 each, 49 per cent more than Tuesday's closing price. Shares in the Melbourne-based logistics company jumped by a record 47 per cent to A$8.94 at 3.44 pm in Sydney on Wednesday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Transport & Logistics

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here