Toyota Industries shares fell more than 12% after Toyota Motor announced a $33 billion takeover bid, below investor expectations

Toyota Motor's $33 billion takeover bid for Toyota Industries sent the company's shares down more than 12%, with the proposed price below market expectations and below the previous closing price. Analysts believe the offer does not accurately reflect the value of the company and disadvantages minority shareholders, with earlier speculation pointing to a bid of up to $42 billion. Toyota says the delisting will allow for a long-term growth strategy.