Japan’s Toshiba Corp. said on Wednesday that it had received a proposal to acquire from private equity firm CVC Capital Partners. If completed, the transaction could be worth more than $20 billion.
Toshiba said it would seek more details on the offer and carefully consider the proposal.
Toshiba shares rose 18% in Tokyo trading on Wednesday to close at 4,530 yen, equivalent to 41.26 U.S. dollars, the highest level since December 2016. This brings the company’s market value to nearly $19 billion. According to “Nikkei Shimbun” reports, CVC proposed a 30% premium, implying that the proposal would make Toshiba worth slightly more than 20 billion U.S. dollars.
CVC declined to comment.
According to Dealogic, this transaction will be one of the largest leveraged acquisitions in history, and may be the largest in Asia, and will compete with the acquisition of Toshiba̵