(Reuters) -Toyota Industries ( TYIDF ) is expected to accept the $42 billion takeover bid by the world's biggest automaker Toyota Motor Corp ( TM ) and other group companies as early as Tuesday, the Nikkei newspaper reported on Monday.

The group companies are expected to take Toyota Industries ( TYIDF ) private after it accepts the tender offer, the report said.

Toyota Motor ( TM ) had said in April it was considering participating in a potential buyout of major parts supplier Toyota Industries ( TYIDF ).

Kyodo news agency reported in May that Toyota Industries ( TYIDF ) plans to accept a tender offer by Toyota Motor ( TM ) and was making arrangements to announce its intention as early as the same month.

(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Arun Koyyur)