Elliott builds Toshiba stake adding pressure to review

Toshiba's board is undertaking the review after an activist-shareholder rebellion earlier this year led to the ouster of the chief executive officer and a board member

Elliott Investment Management said it has a become a “significant investor” in Toshiba Corp. at a time when the board is still deciding whether to take the troubled company private.
 

“Our investment in Toshiba reflects our strong conviction in the company’s underlying value,” an Elliott spokesperson said in an emailed statement. “We have been encouraged by the constructive nature of our engagement with the company in recent months.”

The U.S.-based hedge fund, run by billionaire Paul Singer, has been a small investor in the Japanese conglomerate for several years but increased its stake significantly after private equity firm CVC Capital Partners