Toshiba says a 2 trillion yen ($14 billion) tender offer for the troubled electronics and energy giant by a Japanese consortium has been completed, clearing the way for it to be delisted. private.
TOKYO — A 2 trillion yen tender offer for troubled electronics and energy giant Toshiba by a Japanese consortium has been completed, clearing the way for it to be delisted, the company said Thursday.
The switch to Toshiba’s new parent company and largest shareholder, called TBJH Inc. will take place on Sept. 27. The move still needs shareholders’ approval, and a meeting has been set for November, according to Toshiba. A leading brand behind rice cookers, TVs, laptops and other products once symbolic of Japan’s technological prowess, Toshiba had billed the takeover led by the consortium of Japanese banks and major companies, known as Japan Industrial Partners, as its last chance for a turnaround. Toshiba’s board accepted the deal in March.
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