HOME > NATION > Article

Text Size

small

medium

large


(Update 2) U.K. Fund CVC Capital Offers to Buy Toshiba

(Update 2) U.K. Fund CVC Capital Offers to Buy Toshiba

   Tokyo, April 7 (Jiji Press)--Entities including British investment fund CVC Capital Partners have offered to acquire major Japanese electronics and machinery maker Toshiba Corp. <6502>, it was learned Wednesday.
   They aim to take Toshiba private to thoroughly revamp the firm's governance system and help speed up its decision-making by fending off pressure from activist shareholders, informed sources said. The costs of acquisition may top 2 trillion yen, according to the sources.
   "We have received (an acquisition offer)," Toshiba President Nobuaki Kurumatani told reporters Wednesday. The firm discussed its response to the proposal at a board meeting Wednesday morning. Kurumatani previously served as chairman of CVC Capital's Japanese unit.
   Toshiba said in a statement the same day that it received an "initial proposal" on Tuesday, adding that it will ask for "further clarification" and give "careful consideration" to the buyout proposal.
   After working out specifics, CVC Capital plans to make a detailed proposal to acquire Toshiba and launch a tender offer for the company, the sources said. CVC Capital is also considering calling on other investment funds to join the buyout scheme.

To read a full story, please click here to find out how to subscribe.

NATION

Aomori Tourism Information

HEADLINES

POLITICS
Blinken Says US Is Falling Behind in Race to Shape World's Climate Future
ECONOMY
Tokyo Stocks (Morning Close): Nikkei Average 29,150.71 (-534.66)
SPORTS
Soccer: UEFA to Expand Champions League to 36 Teams Starting in 2024-25 Season
OTHER
Britain's Prince William Voices Concern over European Soccer Super League Plan

AFP-JIJI PRESS NEWS JOURNAL


Photos