Toshiba accepts $15bn buyout bid from Japan consortium
Christian Fernsby ▼ | March 24, 2023
Toshiba accepted a buyout offer from a Japanese consortium.Article continues below
The Tokyo-based company’s board approved on Thursday a bid of about 2 trillion yen (€14.2 billion) from a group led by domestic private equity firm Japan Industrial Partners, it said in a statement. The offer is at about a 9.7% premium to Toshiba’s closing price on Thursday.
As the next step, a tender offer is expected to start in late July, with the exact schedule to be announced later, the company said.
Seventeen Japanese companies and six domestic financial institutions will participate in the buyout, Toshiba said. Orix, Rohm and Chubu Electric Power are among the firms, the Nikkei reported before the statement, confirming earlier Bloomberg News reports. ■ What to read next
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