Toyota, Distributor Reach Accord: A privately owned...
From Times Staff and Wire Service Reports
Toyota, Distributor Reach Accord: A privately owned distributor of Toyotas has dropped its fight to block the Japanese car maker from taking over the company. A spokesman for Mid-Atlantic Toyota Distributors Inc. said a tentative agreement was reached over the weekend between Mid-Atlantic and Toyota Motor Sales U.S.A. The terms of the settlement were not immediately disclosed. Mid-Atlantic, which distributes Toyotas in a five-state region, went to court in June to block the takeover. The company, owned by Los Angeles millionaire Frederick R. Weisman, was supported by more than 30 members of Congress in its brief fight.
