The Australian Foreign Investment Review Board has confirmed no objections to Japan Post’s proposed acquisition of 100 per cent of Toll. Approval from the FIRB is one of the key steps required for the deal to go ahead. The process for achieving other approvals is underway and Toll has said further approvals will be reported to the ASX in due course. “We are pleased that Japan Post’s bid has gained FIRB approval. The offer is compelling for Toll’s shareholders and this is an exciting time for Toll and its employees”, said Toll Chairman Mr Ray Horsburgh. ” While there are still a number of approvals to obtain, including the vote by our shareholders at an EGM in May, we look forward to a successful and speedy conclusion to the transaction. In the meantime, it is business as usual for Toll as we focus on delivering the best possible logistics solutions for our customers.”
