Toyota Industries $33 Billion Buyout Faces Uproar Over Low Price

The Toyota group’s proposal to privatize Toyota Industries Corp. is drawing criticism from investors and analysts, who argue the ¥4.7 trillion ($33 billion) deal significantly undervalues the company.

The planned tender offer of ¥16,300 per share from a group led by Toyota Motor Corp.’s Chairman Akio Toyoda represents an 11% discount to Tuesday’s closing price for the maker of textile looms, forklifts and car components.

“The tender offer price is very low compared to our estimate of intrinsic value,” said David Mitchinson, chief investment officer at Zennor Asset Management LLP, which owns Toyota Industries stock. “Many of ...