Toshiba said on Monday a group led by private equity firm Japan Industrial Partners (JIP) would launch a $14 billion tender offer on Aug. 8 to take the industrial conglomerate private and put it in domestic hands.
said on Monday a group led by private equity firm Japan Industrial Partners would launch a $14 billion tender offer on Aug. 8 to take the industrial conglomerate private and put it in domestic hands.
The tender offer, which values the electronics-to-power stations maker at 2 trillion yen , will complete on Sept. 20. It was originally scheduled to start in late July, but pushed back due to a regulatory delay. The Toshiba board initially said the 4,620 yen per share offer price was too low to recommend shareholders tender their shares, but later
the price was "fair" with no prospects of a higher offer or competing bid and unfavourable economic conditions.of years of battles with the company and eager to exit, sources familiar with the matter have said.
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