Nihon Keizai Shimbun said on the 23rd that Toshiba decided to accept a takeover offer by a coalition such as Japan Industrial Partners (JIP).reported. The resolution was passed at the Board of Directors meeting on the same day. According to the report, the purchase price is expected to be around 2 trillion yen.
According to reports, JIP will conduct a takeover bid (TOB), and Toshiba will be taken private.Acquisition fundsOryx andROHM,The investment will be funded by regarding 20 Japanese companies such as Chubu Electric Power and loans from Japanese banks. JIP will proceed with the application procedures related to the competition law, and as soon as approval is obtained in each region, it will purchase shares from existing shareholders through a TOB and take Toshiba private.
Toshiba logo
Photographer: Kiyoshi Ota/Bloomberg
A Toshiba spokeswoman declined to comment when contacted by Bloomberg.
About a year has passed since Toshiba announced that it would solicit proposals for strategic options, including going private. From now on, the focus will shift to whether or not the existing shareholders will understand the takeover bid (TOB).
Toshiba plunged into financial crisis in 2015 due to the discovery of fraudulent accounting and huge losses associated with the bankruptcy of its U.S. nuclear power subsidiary, and was forced to sell its medical and memory businesses. On the other hand, in 2017, we raised 600 billion yen with overseas funds as underwriters. He has personally invited a situation in which the presence of activist shareholders (activists) has increased.
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