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Toll Holdings Limited (ASX:TOL) says it has received the nod from a key Aussie regulator for the go-ahead of its takeover by Japan Post.
The logistics company says the Foreign Investment Review Board has no objections to the sale.
The approval is a major step for the scheme but the company says there are still a number of approvals to attain.
Chairman Ray Horsburgh says the offer is compelling for Toll’s shareholders and is an exciting time for the company and its employees.
Toll reported a net profit of $136.6 million in the first half of the 2015 financial year.
News: Toll takeover gets FIRB approval
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