Clayton Utz and Herbert Smith Freehills are leading Japan Post Co. Ltd.’s proposed $5.1 billion takeover of Australian logistics company Toll Holdings Ltd.
Japan’s state-owned postal service is offering $7.05 a share, or a 49 percent premium to Tuesday’s closing price, for Toll as it seeks growth in overseas markets. A declining Japanese population and consumers’ increased use of the internet for shipping has weighed on business at home, Japan Post said in a statement. Last October, the company took its first steps into the international market when it entered into an alliance with France’s GeoPost SA and Hong Kong’s Lenton Group Ltd.
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