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TOKYO (Reuters) - Toshiba Corp is considering a $20 billion offer from private equity firm CVC Capital Partners to take it private, a person familiar with the matter said, as the Japanese industrial conglomerate faces pressure from activist shareholders to improve governance.
The proposed deal, which comes three weeks after shareholders approved an independent probe into the scandal-hit company, could shield managers, particularly Chief Executive Nobuaki Kurumatani, from that scrutiny. It would, however, invite regulatory review given its government work. Toshiba received an initial proposal yesterday, and will ask for further clarification and give it careful consideration, Toshiba said in a statement, without providing further details.
Japan s Toshiba considers $20 billion take-private deal - source
By Makiko Yamazaki
Reuters
TOKYO (Reuters) - Toshiba Corp is considering a $20 billion offer from private equity firm CVC Capital Partners to take it private, a person familiar with the matter said, as the Japanese industrial conglomerate faces pressure from activist shareholders to improve governance.
The proposed deal, which comes three weeks after shareholders approved an independent probe into the scandal-hit company, could shield managers, particularly Chief Executive Nobuaki Kurumatani, from that scrutiny. It would, however, invite regulatory review given its government work. Toshiba received an initial proposal yesterday, and will ask for further clarification and give it careful consideration, Toshiba said in a statement, without providing further details.
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TOKYO (Reuters) - Toshiba Corp is considering a $20 billion offer from private equity firm CVC Capital Partners to take it private, a person familiar with the matter said, as the Japanese industrial conglomerate faces pressure from activist shareholders to improve governance.
The proposed deal, which comes three weeks after shareholders approved an independent probe into the scandal-hit company, could shield managers, particularly Chief Executive Nobuaki Kurumatani, from that scrutiny. It would, however, invite regulatory review given its government work. Toshiba received an initial proposal yesterday, and will ask for further clarification and give it careful consideration, Toshiba said in a statement, without providing further details.
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TOKYO Toshiba Corp is considering a $20 billion offer from private equity firm CVC Capital Partners to take it private, a person familiar with the matter said, as the Japanese industrial conglomerate faces pressure from activist shareholders to improve governance.
The proposed deal, which comes three weeks after shareholders approved an independent probe into the scandal-hit company, could shield managers, particularly Chief Executive Nobuaki Kurumatani, from that scrutiny. It would, however, invite regulatory review given its government work.
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Updated / Wednesday, 7 Apr 2021
08:16
Shares in Toshiba were untraded in morning trade with buy orders overwhelming sell orders
Toshiba is considering a $20 billion (€16.84 billion) offer from private equity firm CVC Capital Partners to take it private, a person familiar with the matter said, as the Japanese industrial conglomerate faces pressure from activist shareholders to improve governance.
The proposed deal, which comes three weeks after shareholders approved an independent probe into the scandal-hit company, could shield managers, particularly Chief Executive Nobuaki Kurumatani, from that scrutiny.
It would, however, invite regulatory review given its government work. Toshiba received an initial proposal yesterday, and will ask for further clarification and give it careful consideration, Toshiba said in a statement, without providing further details.