Toshiba Corp’s board has accepted a $15 billion buyout offer from a consortium of investors led by Tokyo-based private equity firm Japan Industrial Partners, according to a report by the Nikkei Business Daily.
Toshiba Corp’s board has accepted a $15 billion buyout offer from a consortium of investors led by Tokyo-based private equity firm Japan Industrial Partners, according to a report by the Nikkei Business Daily.
Should the deal progress it would be the third largest transaction globally so far this year, according to data from Refinitiv, and give JIP and fellow investors, including Orix Corp, Rohm Co and Chubu Electric Power, control of one of Japan’s best-known companies.
JIP’s binding buyout offer backed by $10.6 billion in loan commitments from major banks, was submitted last month, but according to unnamed sources, dissatisfaction among some board members over the offer price delayed the board’s vote by weeks.
