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Toshiba Corp accepts $15 bn buyout offer from Japanese consortium

The Tokyo-based company's board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc.

Toshiba
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Bloomberg
Toshiba Corp. accepted a buyout offer from a Japanese consortium, as the iconic conglomerate moved a step closer to ending a troubled chapter in its more-than-140-year history. Shares jumped on Friday in Tokyo.
 
The Tokyo-based company’s board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc., or 4,620 yen per share, it said in a statement. The offer is at about a 9.7% premium to Toshiba’s closing price on Thursday. Its shares rose 6.1% to 4,471 yen as of 9:09 a.m. local time.

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First Published: Mar 24 2023 | 7:43 AM IST

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