Here's a biggie for you Snowman...
Law OK with Toyota-Fuji
James B. Treece | | Automotive News / February 5, 2007 - 1:00 am
TOKYO -- A change in Japanese antitrust rules has opened the way for Toyota Motor Corp. to take over Subaru maker Fuji Heavy Industries Ltd.
In October 2005, Toyota bought 8.7 percent of Fuji Heavy. At the time, General Motors was selling its 20 percent stake in Fuji Heavy.
Analysts said Toyota would have preferred to buy a controlling stake in the Subaru carmaker, but doing so would have run afoul of antitrust rules. Toyota and Fuji Heavy combined held 45.6 percent of the 2006 Japanese car market.
Until now, that was a problem. Antitrust rules forbid any company to control 50 percent of Japan's market for any product.
Under the rule change, though, Japan's antitrust authorities will consider global market share, not Japanese market share, in reviewing mergers and acquisitions.
Companies now will be allowed to join regardless of their combined Japanese market share, so long as the new company's global market share is under 50 percent. The change, which takes effect April 1, is designed to strengthen Japanese companies' competitiveness on world markets.