Deals
Toyota Motor Affiliate to Buy Cascade for $759 Million
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Toyota Industries Corp., a parts-and-assembly affiliate of Japan’s largest carmaker, agreed to buy U.S. forklift components maker Cascade Corp. for $759 million in cash to expand in the materials-handling business.
The bid is worth $65 a share for all of Cascade, the world’s biggest supplier of materials-handling attachments for lift trucks, Kariya, Japan-based Toyota Industries said in a statement yesterday. The offer is 18 percent more than Cascade’s closing price on Oct. 19, the last trading day before the statement.