Toshiba bid to test Japan s corporate governance rules Reuters 1 hr ago By Scott Murdoch, Alun John and Makiko Yamazaki © Reuters/Toru Hanai FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at an extraordinary shareholders meeting in Chiba
By Scott Murdoch, Alun John and Makiko Yamazaki
HONG KONG (Reuters) - A potential bid for Toshiba Corp is set to test both corporate governance at the scandal-hit conglomerate as well as rule changes in Japan designed to improve transparency and protect minority shareholders.
The process puts the spotlight on the world s third-largest economy s efforts to attract more investments from overseas just as global private equity firms are hunting for more big-ticket deals in the country.
Toshiba bid to test Japan s corporate governance rules - Netscape Money & Business
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Scandal-hit Toshiba bid to test Japan s corporate governance rules
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Toshiba faces investor call to seek alternatives to CVC bid Makiko Yamazaki ,
By Makiko Yamazaki
TOKYO (Reuters) - Toshiba Corp is facing a call from a leading shareholder to seek other offers from potential suitors following a $20 billion buyout bid from private equity firm CVC Capital Partners, according to a statement.
U.S. hedge fund Farallon Capital Management said the Japanese conglomerate should evaluate the privatisation proposal in a sincere manner through a fair process that includes a proactive market check and formation of an independent special committee, according to the statement.
Farallon, Toshiba s third-largest shareholder with a stake of around 6% according to a source, is the first large investor to publicly comment on CVC s unsolicited offer of 5,000 yen ($45.68) per share, a 30% premium on its earlier value.
Toshiba faces investor call to seek alternatives to $20b CVC bid
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