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Japan Post To Buy Australia Transport Company In $5b Deal - Yahoo News

Japan Post agrees $5.1 billion takeover of Australia The board of Melbourne-based Toll Holdings Ltd. said Wednesday that it is recommending to shareholders that they accept the offer of A$9.04 per share, a 49 percent premium over Tuesday's closing price. The offer price values Toll at a 6.5 billion Australian dollars ($5.1 billion). The acquisition comes ahead of Japan Post's planned listing on the Tokyo Stock Exchange later this year. The tapes initial public offering is part of the ongoing privatization of the state-owned postal, banking and tape insurance giant. It is seeking new sources of growth overseas as Japan enters an era of population decline. A Toll statement said that Japan Post sees Toll as the vehicle through which it will become a global logistics company.
Read more: http://news.yahoo.com/japan-post-buy-australia-transport-032311552.html

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