Toshiba to Go Private in $14 Billion Deal With Japan Industrial Partners After Shareholder Approval

Toshiba has accepted a $14 billion tender offer from Japan Industrial Partners (JIP), paving the way for the company to go private.
The JIP-led consortium obtained 78.65% of Toshiba shares, giving it a majority to squeeze out remaining shareholders.
The deal allows Toshiba to escape ongoing battles with activist investors after years of turmoil. Toshiba is set to delist in December.
Toshiba argued a higher offer or competing bid was unlikely, though some shareholders were unhappy with the price.
JIP's consortium includes 20 Japanese companies and will be the largest M&A deal in Japan this year.

cnn.com

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8/21/2023

Reliance spin-off Jio Financial Services slides on market debut

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