Heard on the Street: Investors voted down Toshiba’s plan to split the company, but it still isn’t clear they will get what they really want—a quick sale to private equity
Toshiba remains in limbo after company management faced another setback in its drawn-out battle with activist investors.
Acquiescence to the company’s own turnaround plan would probably have been a negative signal for the stock and in Japan writ large. But there is still no clear path forward for what activist investors appear to really want: a sale to private equity.
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