Toshiba Corp's board on Thursday accepted a buyout offer from a group led by private equity firm Japan Industrial Partners, a source familiar with the matter said, potentially drawing a line under years of upheaval for the company.
plan to take part in the deal, sources have said. It would be the third-largest M&A transaction globally so far this year, according to Refinitiv data.
Toshiba, a sprawling conglomerate which also owns 40.6% of memory chip maker Kioxia Holdings, declined immediate comment. "This would provide a lot of activists a way out, even if it is not what they hoped for. The question is whether 'Toshiba Fatigue' is strong enough to overcome disappointment on price."
At one of its lowest points, a shareholder-commissioned investigation concluded Toshiba had colluded with Japan's trade ministry - which sees the company's nuclear and defence technology as a strategic asset - to block overseas investors from gaining influence at its 2020 shareholder meeting.Toshiba started an auction process about a year ago, receiving eight initial buyout proposals as well as two offers for capital alliances.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toshiba board agrees to accept JIP's $15.3 bln buyout proposal -NikkeiToshiba Corp's board on Thursday agreed to accept a buyout proposal worth around 2 trillion yen ($15.3 billion) from a consortium led by private equity firm Japan Industrial Partners (JIP), the Nikkei business daily reported.
Read more »
Kellogg’s Frosted Flakes Partners With Minecraft For New PromotionICYMI: Kelloggs and Minecraft have come together to add special green Creeper marshmallows to FrostedFlakes for a limited time. cereal
Read more »
Bleecker Street Partners With New York Women in Film & Television on Scholarship Program (EXCLUSIVE)Bleecker Street, the Oscar-nominated studio behind “Captain Fantastic” and “Trumbo,” has partnered with New York Women in Film & Television (NYWIFT) to award three schol…
Read more »
Magic Eden Launches Bitcoin Ordinal Inscription Market, Partners With Hiro, Xverse to Bolster Support – Bitcoin NewsMagic Eden announced that the NFT marketplace has added Bitcoin Ordinal inscription support to the NFT platform.
Read more »
Ulla Johnson Partners With Archive on Resale ProgramWomenswear brand Ulla Johnson has teamed with resale platform Archive to roll out Ulla Johnson PreLoved.
Read more »
Fisker Partners With ChargePoint For Public Charging In North America - CleanTechnicaFisker has recently announced ChargePoint as its North American partner for providing public charging solutions.
Read more »