A 2 trillion yen ($14 billion) tender offer for Toshiba Corp. began on Aug. 8, with its management calling on shareholders to accept the bid from a consortium led by Tokyo-based fund Japan Industrial Partners Inc. in an effort to turn around its business through delisting.
A consortium led by Tokyo-based fund Japan Industrial Partners Inc., the preferred bidder for a potential buyout of Toshiba Corp., is unlikely to secure a bank loan needed to finance the takeover by the Nov. 7 deadline, according to sources familiar with the matter
Toshiba Corp. shareholders approve a proposal for appointing 13 board members, including two new members from overseas investment funds that are considered activist investors, prompting the resignation of one director critical of the new board makeup.
Public-private investment fund Japan Investment Corp. is considering acquiring Toshiba Corp., sources familiar with the matter say, the first domestic entity known to express an interest in taking over the Japanese conglomerate.
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