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Yomiuri Shimbun file photo The headquarters of Toshiba Corp. is seen in Minato Ward, Tokyo, in July 2020.
Reuters
19:50 JST, September 20, 2023
TOKYO (Reuters) — A $14 billion tender offer to take Toshiba private is set to succeed, the Japanese company said on Wednesday, clearing a way for Japan’s biggest deal this year.
Toshiba has received a report from the buyer, a group led by Japan Industrial Partners (JIP), that the tender offer “is forecasted to be successful,” the company said.
JIP, a private equity firm, launched a ¥4,620 ($31.24) per share bid to take Toshiba private last month, a move that would put the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders.
The offer, which ended on Wednesday, needed at least two-thirds of shareholders to tender their shares for it to succeed.
