(Reuters) -Activist investor Elliott Investment Management has increased its stake in Toyota Industries to almost 5%, Bloomberg News reported on Tuesday, citing people familiar with the matter. Elliott has told the company that its proposed privatization price is too low, the report added.
Reuters could not immediately verify the report.
Toyota Industries in a filing on Tuesday disclosed that Elliott had a 3.26% stake as of September 30.
(Reporting by Dheeraj Kumar in Bengaluru; Editing by Rashmi Aich)
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