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Toshiba secures deal proposal worth more than 20 billion U.S. dollars



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

7;s flash memory division led by Bain Capital in 2018. In leveraged buyouts, financial companies such as CVC use borrowed funds to buy companies, usually hoping to improve their operations and sell them at a profit.


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