0757 GMT - Daimler Truck Holding is among the most mentioned companies across news items over the past 12 hours, according to Factiva data. The German commercial-vehicle manufacturer said Tuesday it has signed a nonbinding agreement to merge its Mitsubishi Fuso Truck and Bus business with Toyota Motor's Hino Motors, forming a new holding company that would be listed on the Tokyo stock exchange. Daimler said it and Toyota would have the same shareholding in the merged entity, which would also have a substantial share of external investors. Exact details of the deal and the merged entity's structure have yet to be ironed out in legally binding definitive agreements that Daimler and Toyota expect to sign in the first quarter of 2024. The companies expect to close the deal by the end of next year. Analysts at Citi said in a research note the proposed combination seeks to accelerate technology development across the companies' heavy-duty segments. Dow Jones & Co. owns Factiva. (adria.calatayud@dowjones.com)

(END) Dow Jones Newswires

May 30, 2023 04:13 ET (08:13 GMT)

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