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Toshiba obtains takeover offer from private equity firm CVC



Toshiba said on Wednesday that it has received an acquisition proposal from private equity firm CVC Capital Partners.

The Japanese industrial company stated that it will seek more details on the offer and will consider it carefully.

The offer comes as some Toshiba shareholders have questioned the company’s corporate governance in recent months.

Private equity cash income reaches $1

.5T

In March, shareholders approved Toshiba’s major shareholder Effissimo Capital Management Pte. A proposal was made to appoint investigators to investigate whether last year’s shareholders’ meeting was conducted fairly.

Since Westinghouse Electric Co., a Japanese conglomerate US nuclear subsidiary, went bankrupt, and the group raised billions of dollars in 2017 to consolidate its balance sheet, the role of foreign shareholders in the Japanese conglomerate has grown. .

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Prior to joining the company, Toshiba CEO Nobuaki Kurumatani served as chairman of CVC Japan.

According to data from S&P Global Market Intelligence, Toshiba’s market value was 1.738 trillion yen ($15.84 billion) as of Tuesday.


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